HUD INVESTIGARÁ ALEGACIONES SOBRE BANCOS QUE DISCRIMINAN CONTRA LATINOS

HUD INVESTIGARÁ ALEGACIONES SEGÚN LOS CUALES 22 BANCOS Y PRESTAMISTAS HIPOTECARIOS DISCRIMINAN CONTRA AFROAMERICANOS Y LATINOS QUE BUSCAN PRÉSTAMOS

WASHINGTON – El Departamento de Vivienda y Desarrollo Urbano de los Estados Unidos anunció hoy que está iniciando múltiples investigaciones a varios prestamistas hipotecarios para determinar si sus políticas de préstamos denegaron ilegalmente acceso a crédito a prestatarios calificados de origen afroamericano y latino.

Las investigaciones surgen en respuesta a 22 quejas presentadas ante HUD por la Coalición Nacional de Reinversión Comunitaria, (NCRC por sus siglas en inglés), National Community Reinvestment Coalition, alegando que las actividades de préstamos de los originadores de hipotecas mostraron que sus prácticas de préstamo denegaron préstamos asegurados por la Administración Federal de Vivienda FHA a afroamericanos y latinos con puntaje de crédito de hasta 640. Las guías de FHA permiten asegurar hipotecas a prestatarios con puntaje de crédito superior a 580, provisto que los prestatarios realicen un pago inicial igual al 3.5 por ciento del monto del préstamo, o con un puntaje superior a 500, si los prestatarios realizan un pago inicial equivalente al 10 por ciento del valor del préstamo.

"FHA es un importante vehículo para los estadounidenses que desean comprar o refinanciar una vivienda. Agradecemos a NCRC por presentar estas quejas ante HUD. Para los prestamistas a negar esta fuente de crédito a compradores responsables, sin consideraciones de su capacidad para pagar el préstamo, crea preocupaciones muy serias de igualdad en la vivienda y, de comprobarse, menoscabaría los esfuerzos de recuperación de nuestra nación", dijo el secretario adjunto de HUD para Equidad de Vivienda e Igualdad de Oportunidades, John Trasviña. "HUD tomará acción apropiada en contra de cualquier prestamista que se encuentre realizando prácticas discriminatorias."

Con antelación al reciente retroceso en la economía, los préstamos asegurados por FHA equivalían a menos del tres por ciento de los préstamos de nuevas viviendas. Desde la crisis económica, FHA y las empresas patrocinadas por el gobierno – GSA Government-Sponsored Enterprises- han asegurado o garantizado cerca del 95 por ciento de los nuevos préstamos hipotecarios que se han originado. Al final de 2008, casi la mitad de los préstamos de compra de nuevas viviendas y un cuarto de los nuevos préstamos de refinanciación fueron asegurados por FHA o la Administración de Veteranos, (VA por sus siglas en inglés).

Según NCRC, una asociación de más de 600 organizaciones comunitarias que promueven el acceso a los servicios bancarios básicos, sus "probadores" que observan las prácticas prestatarias equitativas evaluaron las prácticas de los prestamistas nacionales, las empresas de servicios financieros, y otros prestamistas aprobados por FHA regionales y locales. En las quejas presentadas el 7 de diciembre, NCRC indicó que los prestamistas fueron elegidos según la cuota de mercado, el volumen de préstamos de FHA y discusiones con los líderes comunitarios.

Bajo la Ley de Equidad de Vivienda, HUD investiga las alegaciones de discriminación de vivienda con imparcialidad, así como durante cada fase de las investigaciones, el intento de resolver las quejas a través de los esfuerzos conciliatorios.

FHA fue establecido en 1934 y actualmente asegura más de 6.5 millones de préstamos unifamiliares. El 80 por ciento de los préstamos asegurados por FHA en 2010, fueron destinados a los compradores de vivienda por primera vez y más del 30 por ciento de los préstamos de compra fueron destinados a los compradores minoritarios.

La Oficina de Equidad de Vivienda e Igualdad de Oportunidades (FHEO) de HUD y sus socios en el Programa de Ayuda de Equidad de Vivienda investigan más de 10,000 quejas de discriminación de vivienda al año. Las personas que creen haber sido víctimas de discriminación de vivienda deben comunicarse con HUD al (800) 669-9777 (voz), (800) 927-9275 (TTY).

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La misión de Departamento de Vivienda y Desarrollo Urbano de EE. UU. es crear comunidades fuertes, sostenibles e inclusivas y vivienda de calidad asequible para todos. HUD trabaja para fortalecer el mercado de vivienda a fin de impulsar la economía y proteger a los consumidores; satisfacer las necesidades de vivienda de alquiler asequible de calidad: utilizar la vivienda como una plataforma para mejorar la calidad de vida; construir comunidades inclusivas y sostenibles libres de discriminación; y transformar el modo en que HUD hace negocios. Información adicional sobre HUD y sus programas está disponible en www.hud.gov y espanol.hud.gov.

5 Tips You Must Do Before You Sell Your Home

5 Tips You Must Do Before You Sell Your Home

New FHA Tool Will Help Condo Associations

CAR subsidiary launches FHA approval tool

By Inman News
Inman News™

February 02, 2011

Real Estate Business Services Inc., a subsidiary of the California Association of REALTORS®, has teamed with FHA Pros LLC to launch a product that checks for FHA loan eligibility and offers assistance in the FHA loan approval process.

The Clarus FHA Approval product includes two services:

Approval Services helps condominium homeowners associations meet regulations from the U.S. Department of Housing and Urban Development (HUD) that require an entire condo development be approved before an FHA loan may be granted for a single unit.
Eligibility Check is a database that allows real estate professionals to determine FHA loan eligibility through a property address search.

"FHA loans now account for up to half of all new mortgages. Given the importance of this loan program, every condominium association should seek to be approved for FHA loans," said Robert Bailey, chairman of REBS, in a statement.

Contact Inman News: http://www.inman.com/

Fed punts on real estate loan disclosures

Consumer protection bureau tasked to devise single, standardized form
By Inman News
Inman News™

February 02, 2011

The Federal Reserve is backing down from a slew of proposed changes to mortgage loan disclosures, saying authority in that arena will soon be transferred to the new Consumer Financial Protection Bureau.

The Fed's proposed changes to mortgage loan disclosures were over a year in the making, prompted by criticism that homebuyers often didn't understand the true cost and terms of mortgages taken out during the boom.

The situation was complicated by the fact that borrowers get two sets of federal mortgage disclosures: one addressing Truth in Lending Act (TILA) requirements, and the other satisfying requirements of the Real Estate Settlement Procedures Act, or RESPA.

The Federal Reserve has had rulemaking authority for TILA loan disclosures under Regulation Z, while the Department of Housing and Urban Development (HUD) oversees RESPA disclosures.

Lenders, the real estate industry, and consumer groups have complained that having two sets of mortgage loan disclosures is confusing.

In an attempt to address that problem, the Dodd-Frank Wall Street Reform and Consumer Protection Act transfers oversight of both TILA and RESPA to the Consumer Financial Protection Bureau in July.

The bill mandates that the CFPB issue a proposal for a single federal mortgage disclosure form that satisfies both TILA and RESPA requirements within 18 months of assuming oversight responsibility.

By the time Dodd-Frank was passed, HUD had rolled out new RESPA loan disclosure forms in the face of industry opposition, but the Fed was still in the process of overhauling TILA disclosures.

A combined TILA-RESPA disclosure rule "could well be proposed by the (bureau) before any new disclosure requirements issued by the Board could be fully implemented," the Fed said in announcing that it will not finalize three rulemaking proceedings it's initiated since August 2009.

Although there are specific provisions of the Fed's proposals that would not be affected by the bureau's development of joint TILA-RESPA disclosures, adopting them "in a piecemeal fashion would be of limited benefit, and the issuance of multiple rules with different implementation periods would create compliance difficulties," the Fed said in an announcement.

In announcing plans to update TILA loan disclosures in the summer of 2009, Fed Chairman Ben Bernanke said the one-page TILA disclosure currently in use "is not adequate to convey the features and risks of today's complex products."

The Fed promised improved disclosures would:

Capture most fees and settlement costs paid by consumers in the disclosed annual percentage rate.
Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit.
Require lenders to provide final TILA disclosures at least three business days before loan closing.
Require lenders to show consumers how much their monthly payments might increase for adjustable-rate mortgage (ARM) loans.
Another issue the Fed was attempting to tackle was the use of "yield spread premiums" -- rebates paid by lenders when mortgage brokers place borrowers in loans with higher interest rates than they might otherwise have qualified for.

Critics said the rebates were often pocketed by mortgage brokers without a borrower's knowledge, creating a financial incentive for loan originators to place borrowers in more costly loans.

The Fed proposed a ban on yield-spread premiums that was to take effect April 1 -- a move adamantly opposed by the National Association of Mortgage Brokers.

HUD, for its part, has maintained that yield-spread premiums can benefit borrowers who would otherwise have trouble paying their closing costs, as long as the rebates are not pocketed by mortgage brokers.

Instead of banning yield-spread premiums, the standardized loan disclosure forms HUD began requiring lenders to use last year require that the rebates be credited against a borrower's closing costs.

Inman News columnist Jack Guttentag has characterized the dual-disclosure system as "a disgrace" because critical information is often buried or absent.

But Guttentag -- also known as "The Mortgage Professor" -- has also questioned whether the solution put forward in Dodd-Frank will solve the problem.

Dodd-Frank appears to have more mandated disclosures than TILA, some of which are "nonsensical and will prejudice the ability of (the CFPB) to do its job," Guttentag wrote in a column on the topic.

Contact Inman News: http://www.inman.com/

Miami: el mercado más atractivo para la compra de una vivienda

Existe alguna ventaja en tener una enorme tasa de ejecuciones hipotecarias, un desempleo de dobles dígitos y un mercado de crédito muy limitado. De acuerdo con una respetada firma inmobiliaria, estos elementos ayudan a hacer de Miami el principal mercado en la nación para comprar una casa en vez de rentarla.

Miami ha subido dos lugaress desde el año pasado para convertirse en el mercado más atractivo de la nación para hacerse propietario, en vez de rentar, encontró un nuevo informe de la firma inmobiliaria Trulia. El estudio, dado a conocer el lunes, comparó los precios de las casas y las tasas de rentas en las mayores 50 ciudades del país para determinar dónde el ser propietario tiene un mayor sentido financiero.

Los compradores potenciales comienzan a darse cuenta de la dinámica cambiante de la Florida en compra vs. renta. Arden Shank, director de Servicios de Viviendas de Vecindarios del Sur de la Florida, dijo que los compradores por primera vez de los condados de Broward y Miami-Dade inundan su oficina.

``Tenemos más familias que vienen al proceso de preparación de compradores de viviendas que los que nunca hemos tenido'', destacó Shank. ``Muchas personas que fueron sacadas antes del mercado debido a los precios, pueden ahora disponer del dinero para comprar una casa''.


Read more: http://www.elnuevoherald.com/2011/01/25/874698/miami-el-mercado-mas-atractivo.html#ixzz1C399Xv5E

Para consejos de como comprar una casa en Miami, visite RealEstateLatino.com

Church Foreclosures Surge, Seen as 'Next Wave' in Crisis

ROSEVILLE, Calif.—Residential and commercial real-estate owners aren't the only ones losing their properties to foreclosure. The past few years have seen a rapid acceleration in the number of churches losing their sanctuaries because they can't pay the mortgage.

Just as homeowners borrowed too much or built too big during boom times, many churches did the same and now are struggling as their congregations shrink and collections fall owing to rising unemployment and a weak economy.

Since 2008, nearly 200 religious facilities have been foreclosed on by banks, up from eight during the previous two years and virtually none in the decade before that, according to real-estate services firm CoStar Group, Inc. Analysts and bankers say hundreds of additional churches face financial struggles so severe they could face foreclosure or bankruptcy in the near future.

Read more: http://www.foxnews.com/us/2011/01/25/churches-end-nigh/#ixzz1C32S27HI

Looking for a better way to target the Latino market? Visit, RealEstateLatino.net

Nextage Realty International, LLC to Convert Casa Latino Real Estate Offices

JOHNS CREEK, Ga., Jan. 14, 2011 /PRNewswire/ -- Nextage Realty International, LLC, one of the fastest growing franchises in the US, has announced that it will be converting the majority share of offices of the well-know and highly respected Casa Latino franchise to its Nextage Realty brand. Casa Latino was created in 2005 based upon the premise that Hispanic home buyers and sellers have unique needs due to cultural differences and lifestyles. Casa Latino currently has offices in 13 states. Details as to which offices will convert to the Nextage brand are still in discussion.

Robb Heering, founder of Casa Latino Franchise Corporation states, "Although we will still be serving our specialized and targeted Hispanic market, the Nextage Realty system allows for broader opportunity for our franchisees as well as allowing us to continue providing superior service to our multicultural clients. Nextage and Casa Latino have much in common in our business strategy and priorities, our consumer-centric focus and our vision for the future. It's a logical next step for us to combine efforts. This is by no means the dissolution of our brand, but rather the evolution to our future."

Heering will join Nextage Realty International, LLC as Vice President of Diverse Markets, initially focusing on the Casa Latino office conversions, agent training and coaching. "The future of real estate is about the power of 'We' and I am confident that we will share much success and satisfaction working together and building our new brand across the nation and, eventually, internationally."

Franchisee Thomas Mestas, with offices in Albuquerque and Rio Rancho, New Mexico and one of the very first Casa Latino franchise owners, is looking forward to the transition. "We are very excited about joining the Nextage Realty family and about being able to provide all of our agents the same opportunity that we have as owners. With the Nextage model, we anticipate systematic growth of our business in terms of locations, agents and transaction sides throughout the next several years. We have just begun the process of presenting the opportunity to agents in the community and the response has been tremendous."

The office conversions will begin in January 2011. Currently, Nextage Realty International has almost 60 offices across the nation. Nextage Realty debuted their brand at the National Association of Realtors Convention in New Orleans in November and has achieved remarkable success, taking the industry by storm in the two years it has been in operation. Co-Founders, Frank Cluck and Dave Wild, industry veterans and visionaries, are behind the evolutionary business model that has gained wide-spread attention and respect in the industry.

For more information, visit: http://www.NextageAdvantage.com.

About Nextage® Realty International, LLC

Nextage Realty International, LLC is a consumer-centric company that helps brokers and agents overcome today's major, marketplace challenges by creating a unique team environment where everyone works toward one common goal. It's about BUILDING a business, not just DOING business™ while providing the absolute highest level of client service. With an evolutionary business model and the most innovative compensation plan in the industry, Nextage Realty is setting the new standard and leading the industry into its "Next Age".
SOURCE Nextage Realty International, LLC

Looking for a better way to target the Latino market? Visit, RealEstateLatino.net

Mexico Real Estate Coalition Announces "Live Mexico" Campaign

Houston, TX (PRWEB) January 6, 2011

For the first time, a nationwide array of companies are joining forces to promote living and real estate investment in Mexico. Individuals from some of the most respected companies including Grupo Questro, Capella Pedregal, Punta Mita, Querencia, RCI International, BBVA/Compass Group and Stewart Title Latin America have compiled a stellar group of talent to combat the negative media, security concerns and perception challenges that have faced Mexico the past year. www.livemexico.org

The Mexico Real Estate Coalition (MREC) has a very clear and simple goal: to promote the many benefits Mexico offers to those seeking a place to retire or own a second home. The second home/retirement home sector is a multi-billion dollar industry in Mexico, spread over several major markets and many smaller ones. Until now, there has never been a national association to advocate this specific segment. As a national industry-wide Coalition, the MREC has the combined power to ensure that Mexico continues to attract people from United States and Canada and educate them on the main benefits of living in the country.


Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/01/06/prweb4945844.DTL#ixzz1B38aGwxZ

Banks repossess 1 million homes in 2010

NEW YORK – The bleakest year in foreclosure crisis has only just begun.
Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.
"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.
The outlook comes after banks repossessed more than 1 million homes in 2010, RealtyTrac said Thursday. That marked the highest annual tally of....


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In Jacksonville’s older rentals, EPA checks warnings on lead paint risks

In Jacksonville's older neighborhoods, an old worry - lead paint - is drawing attention from the federal government.

The U.S. Environmental Protection Agency fined the operators of four Jacksonville apartment complexes and a house-management company last year after concluding they violated a law that says property owners must tell tenants about any evidence of lead paint.

The last case was finalized in December.

EPA doesn't know whether tenants at any of those buildings were ever exposed to decaying paints. But it will send inspectors to as many as 175 rental offices around the Southeast each year to audit lease records for disclosure forms that are supposed to be signed by tenants at any property built before 1978.

"Understand that this is a public health issue," said Anthony Toney, chief of the lead and children's health section at EPA's regional office in Atlanta.

Lead poisoning can hurt a child's brain development and cause neurological problems that can persist as the child grows up. Adults are less vulnerable but can also be harmed by chronic overexposure at high levels. Read Article Here

Judges berating bank lawyers over foreclosure

t's not been a good year so far for plaintiffs seeking to foreclose. Last week, a the highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. in affirming a lower court judge's ruling invalidating two mortgage foreclosure sales because the banks did not prove that they actually owned the mortgages at the time of foreclosure.

As Jacksonville attorney James Kowalksi said, "Wells Fargo had every opportunity to walk the judge through all the complicated steps to show ownership. And they couldn't do it."

Monday, the New York Times looked at how judges in that state are becoming more critical and vocal toward the attorneys representing banks in foreclosures.

"In numerous opinions," the Times wrote, "judges have accused lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks."

A judge on the state supreme court called one filing, "incredible, outrageous, ludicrous and disingenuous."

You can read the story here.