National News Credit from page 1 Not affiliated with The Colorado Springs Business Journal
Director of Advertising Rachelle Nardo
rachelle@csrej.com
Director of Publishing Josh Olson
josh@csrej.com Colorado Springs Real Estate Journal LLC (CSREJ) is locally owned and operated out of Colorado Springs, Colorado. CSREJ is published once a month and distributed through US Mail to nearly all members of The Pikes Peak Association of Realtors® and The Colorado Springs Housing & Building Association and many other industry-related professionals. CSREJ is not responsible for any opinions or facts expressed by nonstaff writers. CSREJ shall not be held responsible for any errors in advertising or editorial content. Realtor® is a registered trademark. Sometimes the word Realtor® or Realtors® will appear without the “®” symbol for the purpose of saving space. The registered trademark should be assumed if it is not present.
We welcome the submission of articles, photos and press releases. Please email any considerations to:
economy forward following the worst downturn since the Great Depression. A separate one-hour meeting with Fed Governor Elizabeth Duke focused on this issue. Later that afternoon, NAHB Chairman Jones, First Vice Chairman Bob Nielsen, CEO Jerry Howard, EVP for Advocacy Bill Killmer and Chief Economist David Crowe met at the White House with Lawrence Summers, director of the National Economic Council, to discuss steps the federal government can take to help boost housing’s role in generating jobs. Topics included the AD&C credit crisis, the future role of housing’s government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, Federal Housing Administration (FHA) and GSE loan limits, financial services regulatory reform and an overview of the housing outlook. Serious difficulties with the credit crunch and new home appraisals were at the top of the agenda when the NAHB Senior Officers met with Housing and Urban Development Secretary Shaun Donovan on April 20. Other topics of discussion included the GSEs, FHA underwriting changes and the Administration’s foreclosure mitigation efforts. NAHB leaders emphasized the importance of Secretary Donovan raising hous-
ing credit problems in discussions with other members of the Administration's economic team. Continuing to take its case to those who can make a difference in pursuing policies aimed at restoring the health of the housing sector, NAHB has remained engaged with the nation’s top banking regulators. On April 29, Senior Officers and staff met with Sheila Bair, chairman of the Federal Deposit Insurance Corporation, and John Dugan, comptroller of the currency, to discuss solutions that will help restore the flow of credit to housing. NAHB has also been reaching out to all the major banking trade organizations and housing industry groups. On April 27, association leaders met with their counterparts from the Independent Community Bankers of America to further address the importance of lending to creditworthy borrowers and the need for regulators to provide constructive guidance to encourage and facilitate real estate loan workouts. During the Legislative Conference, builders conducted more than 250 meetings with their members of Congress, urging lawmakers to send a letter to banking regulators voicing their concerns on the lending environment. The letter urged regulators to recognize the damaging economic impact of overly restrictive lending policies. It also said that financial institutions should be
encouraged to fund viable new projects and to take steps to avoid foreclosure on AD&C loans by accommodating loan modifications and workouts. “While I support prudent financial regulatory oversight, it seems that bank examiners are forcing actions that are unrelated to sensible regulatory requirements,” the letter said. “It is not in anyone’s interest — not lenders, not builders, not the economy as a whole — to deny credit for viable projects and to force performing borrowers into insolvency.” In addition to delivering an urgent AD&C message to lawmakers, builders participating in the Legislative Conference cited the importance of using tax credits to encourage energy retrofits and urged members of Congress to oppose any attempts by labor unions to revive the failed health care amendment by Sen. Jeff Merkley (D-Ore.). Merkley would have required construction firms employing more than five workers to provide health insurance even though the law exempted from mandated coverage all small businesses with 50 or fewer workers. While NAHB was successful in stripping the Merkley language from the final health care bill, concerns remain that proponents of the provision could add it to an unrelated piece of legislation moving through Congress. The above article has been provided to you compliments of NAHB and Nation’s Builder News.
josh@csrej.com
Alliance Financial Partners Meet & Greet
• Article Submission Please submit articles no longer than 700 words in a Word document with an accompanying byline and appropriate contact information. A headshot is also welcomed. Please submit headshot in JPG format.
• Press Releases Please submit press releases directly into an email or an attached Word document. A PDF is acceptable but not preferred. Please include any photos in JPG format attached to the same email.
• On the Move Please submit a short bio no more than 150 words for anyone that has joined your team in a Word document or directly in an email. A headshot may also be attached to the email as a JPG. This is for any business in the industry (Real Estate, Builders, Title Companies, Mortgage Companies, etc.)
• Photos/Events Please attached pictures in JPG format in an email with any notes or captions directly in the email or in a Word document.
April 20, 2010
Right: Krystal Stearns with Alliance, Jessica Callaway with Ticor Title of Colorado and Jameson Bobbin with Vectra Ban.
Right: Shauna Whaley with Alliance, Maurice Moore with Systems Go Services and Vicki Maloney with Keller Williams Partners.
Above: Lynn Boutte with Butte Photography, Jonathan Dorsey with Strategic Financial Partners, Salvatore Como with Alliance and Craig Parker with Land Title.
Right: Sara Martin with Land Title and Gloria Stivala with RE/MAX Properties. Below: Erik Juska and Cindy Como with Alliance Financial Partners. Above: Heather Smith, Diane Silva and Debbie Sherman with Keller Williams Partners.
Office: 719.205.1299 Fax: 719.550.4373
www.csrej.com
Left: Monica Maul, Cheri Lesiak and Ed Leyba with Keller Williams Partners.
Colorado Springs Real Estate Journal LLC 3608 Galley Rd | Colo Springs, CO 80909
2
Colorado Springs Real Estate Journal
www.csrej.com
May 24, 2010