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Texas to invest $750,000 to help Carrollton firm expand
The State of Texas will invest $750,000 to expand the headquarters of a Carrollton real estate services firm.
Vendor Resource Management says it plans to create 275 jobs in the expansion.
Its head office is at 6500 International Parkway in the International Business Park.
The company does real estate valuation, property management, asset marketing and closing services for corporate clients.
Vendor Resource Management is a unit of PCV Murcor Real Estate Services.
http://www.dallasnews.com/sharedcontent/dws/bus/stories/072010dnbusvendor.4ee51f.html
Vendor Resource Management Receives $750,000 Texas Enterprise Fund Grant
Governor Rick Perry today announced the state is investing $750,000 through the Texas Enterprise Fund (TEF) in Vendor Resource Management (VRM) for the expansion of its Carrollton headquarters.
This investment will create 275 jobs in North Texas and generate an estimated $4.6 million in capital investment...
http://thegovmonitor.com/world_news/united_states/vendor-resource-management-receives-750000-texas-enterprise-fund-grant-35829.html
Vendor Resource Management gets Texas Enterprise funds
Vendor Resource Management is expected to create 275 jobs in North Texas with $750,000 in support from the Texas Enterprise Fund.
Carrollton-based Vendor Resource Management offers companies that manage foreclosed properties with valuation, property management and asset marketing and closing services...
http://www.bizjournals.com/dallas/stories/2010/07/19/daily9.html
May 22, 2010 CBR Meeting
May 22, Congresswoman Maxine Waters (CA-35) convened a meeting with representatives from the four largest national banks, the Federal Housing Administration (FHA) and the Consolidated Board of Realtists (CBR) – an organization of African American real estate professionals – to examine the ability of minority real estate professionals to access the listings on foreclosed housing repossessed by the major banks and FHA. The event was sponsored by Consolidated Board of Realtists and US Congresswoman Waters. VRM's Founder, CEO and President Keith D. Murray was one of the participants who addressed the forum of over 400+ members attending.
http://www.vrmco.com/events_photos.aspx?EventID=6
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Industry Press Releases
Shadow Inventory Shrinks for Fifth Consecutive Month: Barclays
That ominous shadow inventory of distressed homes that's been hanging over the industry was trimmed in July, according to Barclays Capital.
It marked the fifth straight month the company has recorded a decline in the shadow supply. Barclays says it shrank 1.2 percent, to 3.92 million homes. At the same time, the firm's assessment of the nation's REO inventory ticked up 0.2 percent to 538,000 properties. The distressed share of home sales rose sharply in July, and Barclays says this will likely drive prices down 2 percent over the next three months.
http://www.dsnews.com/articles/shadow-inventory-shrinks-for-fifth-consecutive-month-barclays-2010-09-03
Homebuyer Tax Credits to Cost Federal Government $22B
The three versions of the homebuyer tax credit are expected to result in revenue losses to the federal government of about $22 billion, according to estimates just released by the Government Accountability Office (GAO).
Looking at Internal Revenue Service (IRS) filings through July 3, homebuyers so far have claimed $23.5 billion under the housing stimulus provisions, about a third of which was in the form of interest-free loans that will eventually have to be repaid. California ranks first among the states, with the most homebuyer tax credit dollars claimed.
http://www.dsnews.com/articles/homebuyer-tax-credits-to-cost-federal-government-22b-2010-09-03
Lawmakers Challenge Fannie Mae's New Policy on Strategic Defaulters
A faction of House Democrats have called on Treasury Secretary Timothy Geithner and Fannie Mae's regulator to suspend the GSE's recently announced policy to sue homeowners who strategically default on their mortgage.
The group of lawmakers, led by Rep. John Conyers, Jr. of Michigan, called the policy "opaque, overbroad, and punitive." They decried Fannie for using taxpayer dollars to penalize underwater homeowners, and maintained that the policy runs counter to the national need to stem a devastating tide of foreclosures.
http://www.dsnews.com/articles/lawmakers-challenge-fannie-maes-new-policy-on-strategic-defaulters-2010-09-03
FHA Keeps Delinquency Rate Steady, Issues New Premium Guidelines
After falling for five straight months, the Federal Housing Administration's (FHA) delinquency rate held steady in July at 8.3 percent. At the beginning of 2010, the rate stood at 9.4 percent.
HUD also issued guidelines for FHA's new insurance premium structure, which takes effect next month. The annual premium will increase from 0.55 percent to between 0.85 percent and 0.90 percent of the loan amount. At the same time, though, the upfront premium has been reduced by 100 basis points from the current 2.25 percent.
http://www.dsnews.com/articles/fhas-delinquency-rate-holds-steady-agency-issues-premium-guidelines-2010-09-03
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