Maryland State Government and Public Real Estate News

Pikesville company agrees to return tenants’ security deposits

Baltimore, MD – September 26, 2013 – (RealEstateRama) — Attorney General Douglas F. Gansler announced today that his Consumer Protection Division has reached a settlement with Pikesville-based American Equity Property Management (“AEPM”) and the company’s owners, Boris Peters and Michael Klein, resolving allegations that the property management company improperly held tenants’ security deposits in its operating account instead of a separate trust account. Find a loan officer Embracehomeloans.com more »

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Deputy Secretary Clarence Snuggs Appointed Acting Secretary of Maryland Department of Housing and Community Development

ANNAPOLIS, MD – August 29, 2014 – (RealEstateRama) — Governor Martin O’Malley announced today that Raymond A. Skinner, who has served as Secretary of the Maryland Department of Housing and Community Development since 2007, is retiring at the end of the month and that he will appoint Clarence J. Snuggs as acting secretary effective Sept. 1. more »

$150 million more will be shared by Maryland, 2 other states for consumer assistance and housing relief efforts
BOA and subsidiaries misled state and local pension system investors over securities that contained toxic mortgages

Baltimore, MD – August 21, 2014 – (RealEstateRama) — Attorney General Douglas F. Gansler announced today that multiple governmental entities and pension programs (Maryland and local governments) will share an estimated $75 million settlement secured by his Securities Division from Bank of America (BOA) and its subsequent acquisitions, Merrill Lynch and Countrywide Financial Corporation. Maryland, joined by five other states and multiple federal agencies, reached a $16.65 billion settlement that resolves allegations against the banking and securities giant for unlawfully packaging, marketing, issuing and selling residential mortgage backed securities (RMBS) that contained toxic mortgages. more »

Illegal schemes charge consumers large upfront fees, but offer little help; Firms in Brooklyn, N.Y. and Crofton alleged to have violated numerous Md. statutes

Baltimore, MD – July 23, 2014 – (RealEstateRama) — Attorney General Douglas F. Gansler today announced that his Consumer Protection Division filed lawsuits against two law firms for allegedly operating illegal loan modification schemes that charge consumers large upfront fees, but often do not help them avoid foreclosure or modify their loans. The lawsuits are part of a joint federal-state sweep by the Consumer Financial Protection Bureau, the Federal Trade Commission and 15 states targeting over 30 firms and programs that prey on struggling homeowners or those facing foreclosure. more »

Eligible Maryland Homefront borrowers will get a reduced fee on federal tax credit

CROWNSVILLE, MD – July 1, 2014 – (RealEstateRama) — The Maryland Department of Housing and Community Development announced new initiatives for Maryland Mortgage Program that will make homeownership more affordable – and more accessible – to borrowers who are veterans or active-duty military members. more »

WASHINGTON, D.C. – June 30, 2014 – (RealEstateRama) — U.S. Senators Ben Cardin and Barbara A. Mikulski (both D-Md.)today announced a grant in the amount of $1,334,427 from the U.S Department of Labor (DOL) to provide job training to homeless veterans in Maryland. The grants are being awarded under the Department’s Homeless Veterans’ Reintegration Program, administered by the Veterans’ Employment and Training Service. more »

Waldorf, Md. – June 12, 2014 – (RealEstateRama) — U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee, convened a gathering of local housing officials, REALTORS and others working to assist Marylanders before and during the foreclosure process. Maryland weathered the national foreclosure crisis by giving homeowners more time to develop strategies to keep their homes, but we currently have the second-highest foreclosure rate in the nation, according to RealtyTrac. more »

WASHINGTON, D.C. – May 28, 2014 – (RealEstateRama) — U.S. Senators Barbara A. Mikulski and Ben Cardin (both D-Md.) today announced that the Town of Emmitsburg has received a $1,000,000 grant from the Department of Agriculture Rural Development (USDA-RD) to upgrade Emmitsburg’s Water and Waste Treatment Plant to include Enhanced Nutrient Removal. In addition to the grant, the project will be funded by a $1,001,000 loan from USDA-RD to the Town of Emmitsburg. more »

WASHINGTON – May 26, 2014 – (RealEstateRama) — Congressman John K. Delaney (MD-6) has published an op-ed on how to rebuild America’s infrastructure in the Hartford Courant with Ronald M. DeFeo, President and CEO of the Terex Corporation, a manufacturing company headquartered in Connecticut. more »

Lawmakers applaud Senate progress on GSE reform, outline principles for Delaney-Carney-Himes proposal

WASHINGTON, D.C. – May 16, 2014 – (RealEstateRama) — Thursday, the Senate Committee on Banking, Housing, & Urban Affairs passed the Johnson-Crapo housing finance reform bill out of committee. The Johnson-Crapo plan uses the Corker-Warner proposal as its base architecture and winds down Fannie Mae and Freddie Mac. more »

WASHINGTON, D.C. – May 16, 2014 – (RealEstateRama) — The overall number of persons experiencing homelessness in Montgomery County decreased by 11.25%, as reported in the Metropolitan Washington Council of Government’s (COG) 2014 point in time survey, released today at COG’s board meeting. Conducted annually in jurisdictions throughout the region, the survey was conducted on January 29. On the night of the count, there were 891 persons who were homeless in Montgomery County, as compared with 1004 persons counted in 2013. more »

Partnership to Build America Act largest bipartisan bill to increase investment in infrastructure

WASHINGTON – May 13, 2014 – (RealEstateRama) — May 12-16 is Infrastructure Week 2014, a week-long initiative designed to highlight America’s infrastructure challenges and underscore the importance of increased infrastructure investment in building a more competitive economy. Infrastructure Week is led by the U.S. Council on Competitiveness, the U.S. Chamber of Commerce, the AFL-CIO, the Brookings Institution, Building America’s Future, 1776, the Organization for International Investment, the National Association of Manufacturers and other groups. more »

Delaney-Carney-Himes proposal a middle ground between existing House and Senate housing finance reform packages

WASHINGTON, D.C. – April 22, 2014 – (RealEstateRama) — Congressman John K. Delaney (MD-6) authored an op-ed in today’s Financial Times calling for pragmatic compromise on housing finance reform. In the piece, Delaney argues for an approach that “combines the government’s financial muscle with the market’s ability to price risk.” more »

WASHINGTON, D.C. – April 22, 2014 – (RealEstateRama) — The Montgomery County Department of Housing and Community Affairs invites all County residents to attend the 14th Annual Montgomery County Housing Fair and Financial Fitness Day on Saturday, May 3, from 10 a.m. to 3 p.m. at the Bohrer Park Activity Center, Summit Hall Farm (next to Gaithersburg High School), 506 S. Frederick Ave. more »

Delaney’s bipartisan Partnership to Build America Act would greatly expand P3 infrastrutcure projects, has 30 Republican and 30 Democratic House cosponsors

WASHINGTON, D.C. – April 4, 2014 – (RealEstateRama) — Congressman John K. Delaney (MD-6) will testify at the House Committee on Transportation & Infrastructure P3 Panel hearing on Tuesday April 8, 2014. The hearing, titled, “The International Experience with Public-Private Partnerships” will be chaired by Rep. John J. Duncan (TN-2). For more information on the P3 Panel, click here. The hearing is scheduled for Tuesday April 8, 2014, at 10:00 AM and will take place in 2167 Rayburn. The hearing will be live streamed here. more »

WASHINGTON, D.C. – April 3, 2014 – (RealEstateRama) –Montgomery County homeowners who have a limited income or are at least 70 years of age may be eligible for property tax credits that will limit the amount of taxes they must pay. One application will determine eligibility for three programs – the Maryland Homeowners’ Property Tax Credit Program; the Montgomery County Supplemental Property Tax Credit; and the Montgomery County Senior Property Tax Credit. The application deadline is September 1, 2014. more »

 
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