Friday, June 10, 2011

Housing News Digest, June 10

Frascona on MARS
MARS, an acronym for Mortgage Assistance Relief Services Act, went into effect on Jan. 1. A 54-page, single-spaced document such as the Federal Trade Commission’s MARS, addresses a number of topics, of course. But the most significant change is that it makes it illegal for real estate brokers to charge sellers an upfront fee or to pass along a short sale coordinator’s fee on any short sale prior to receiving a written offer from a lender or servicer that the homeowner decides is acceptable.

This is what FTC Chairman Jon Leibowitz had to say about this portion of MARS in February: “Banning the collection of up-front fees will protect homeowners from being victimized. This is especially important at a time when so many people are behind on their mortgages or facing foreclosure.”

The Grove would address housing need*
As a nearby resident southwest of Colorado State University and active in quality neighborhood issues, I attended two presentations by the developers and am satisfied that they have modified their original design to make this an exemplary development: environmentally designed, energy efficient and compatible with the nearest neighborhood.

ACE park brings business buzz to Loveland
Buzz surrounding the Aerospace and Clean Energy park, or ACE, has spread beyond the empty buildings on 14th Street SW and Loveland's city hall.

City officials and Northern Colorado businesses have noticed a general increase in interest in Loveland, as well as a large number of companies and people offering their services to the tech park that is set to be developed this year by the Colorado Association for Manufacturing and Technology or CAMT.

McKinsey: Full employment by 2020 will only occur in the most rosy scenario
Some 7 million people remain out of work from the 2008–09 recession and reviving the jobs market could take a very long time, according to a new report from McKinsey Global Institute.

At the recent pace of job creation, it will take more than five years for employment to recover, the consulting firm said, adding that some 21 million jobs are needed by 2020 to return to full employment.

Commission rejects dorm-style apartments near World Arena
It’s back to the drawing board, for the third time, for an Atlanta company that wants to build dormitory-style apartments for soldiers and students near the World Arena.

After a daylong debate Thursday, the El Paso County Commission voted 3-2 to deny a subdivision plat that would have cleared the way for Independence Place at Cheyenne Mountain — 240 apartments in eight buildings on 15.5 acres.

*The Div. of Housing sometimes links to opinion pieces for general informational purposes only. We do not endorse the views of any opinion piece linked on this site.