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Washington, D.C. - July 13, 2011 - (RealEstateRama) -- Today, U.S. Senator Barbara Boxer (D-CA) held a press conference call to discuss her bill, the Helping Responsible Homeowners Act of 2011, which would remove barriers that have prevented millions of homeowners with non-delinquent, Fannie Mae or Freddie Mac-backed mortgages from refinancing at historically low interest rates. She also urged the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, to use its existing authority to eliminate these obstacles to refinancing.

Washington, DC - July 13, 2011 - (RealEstateRama) -- Today, the House Financial Services Committee approved legislation introduced by Rep. Ed Royce (R-CA), the "Housing Trust Fund Elimination Act." Royce’s legislation eliminates the Affordable Housing Trust Fund established in 2008 as part of the Housing and Economic Recovery Act.

WASHINGTON, DC - July 13, 2011 - (RealEstateRama) -- The U.S. Department of Housing and Urban Development (HUD) today announced an agreement with Prospect Mortgage, LLC (Prospect) to settle allegations the California-based mortgage lender created sham affiliated business arrangements for the purpose of paying improper kickbacks or referral fees in violation of Federal Housing Administration (FHA) guidelines and the Real Estate Settlement Procedures Act (RESPA). Prospect agreed to dissolve these sham joint ventures and pay $3.1 million to resolve the complaint

LOS ANGELES, CA - July 11, 2011 - (RealEstateRama) -- Six Los Angeles County residents have been charged for their roles in a mortgage fraud scheme that used fraudulent loan applications and supporting documents to convince lenders to fund approximately 20 loans that resulted in approximately $4 million in losses.

IRVINE, CA - July 7, 2011 - (RealEstateRama) -- Hanley Investment Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the sale of retail properties, announced today that the firm is now marketing for sale a portfolio of four shopping centers in southern California in Hawaiian Gardens, Lancaster, Mission Viejo and Oxnard. Consisting of approximately 517,870 total square feet, the four properties are offered for sale unpriced and can be purchased individually or as a portfolio.

LOS ANGELES, CA - July 7, 2011 - (RealEstateRama) -- Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed a five-year, 21,062 square foot lease valued at over $2 million with Asian Pacific AIDS Intervention Team. APAIT positively affects the quality of life for Asian and Pacific Islanders living with or at-risk for HIV/AIDS by providing a continuum of prevention, health and social services, community leadership and advocacy to the Southern California region. The property is located at 1730 W. Olympic Blvd. near the major cross street of Union Avenue, adjacent to Downtown Los Angeles.

Washington, DC - July 1 30, 2011 - (RealEstateRama) -- Senator Dianne Feinstein (D-Calif.) today announced that legislation to spend $35.5 million to address a severe shortage of housing options for homeless veterans in Los Angeles has passed committee and will advance to the full Senate

SACRAMENTO, CA - June 30, 2011 - (RealEstateRama) -- California housing production rose sharply in May and posted the highest monthly permit total for the year on the strength of the multifamily sector, the California Building Industry Association announced today.

LOS ANGELES, CA - June 24, 2011 - (RealEstateRama) -- More than 30,000 California families will face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan limits on mortgages backed by the Federal Housing Administration (FHA), Fannie Mae, and Freddie Mac are reduced beginning October 1, 2011, according to analysis by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

SACRAMENTO, CA - June 23, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that Shalena P. Leggett, 37, of Vacaville, pleaded guilty today to two counts of wire fraud arising out of her embezzlement from her former employer, a local Sacramento real estate developer.

LOS ANGELES, CA - June 21, 2011 - (RealEstateRama) -- California pending home sales rose in May, posting the first year-over-year increase in 18 months, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today

SACRAMENTO, CA - June 20, 2011 - (RealEstateRama) -- U.S. Attorney Benjamin B. Wagner announced that a grand jury returned a nine-count indictment today against Alonzo Jackson Brown III, 44, of Fairfield, charging him in connection with an investment fraud scheme and a mortgage fraud scheme.

Washington, DC - June 17, 2011 - (RealEstateRama) -- Representative John Campbell (R-CA) and Representative Peter Welch (D-VT) have introduced H.R. 2126, the Risk Retention Modernization Act to allow risk retention groups (RRGs) and risk purchasing groups (RPGs) to expand their insurance offerings to include commercial property coverage. This legislation would encourage increased competition in premiums and significantly lower the rates consumers, especially small businesses, pay in places where coverage is currently very limited and relatively unaffordable.

West Sacramento, CA - June 17, 2011 - (RealEstateRama) -- The State of California Department of Housing and Community Development (HCD) has awarded the City of West Sacramento $2,488,625 in federal Community Development Block Grant (CDBG) funding to provide public infrastructure in support of a new metals recycling facility proposed for the Port of West Sacramento.

LOS ANGELES, CA - June 16, 2011 - (RealEstateRama) -- A weak economy and tightened financing conditions contributed to a slowdown in California home sales and median price during May, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

LOS ANGELES, CA - June 14, 2011 - (RealEstateRama) -- Mayor Antonio Villaraigosa announced the appointment of four new commissioners to the Housing Authority of the City of Los Angeles (HACLA) Board of Commissioners: Isabel Ayala, Kimberly Freeman, Dennis Hernandez, and Mitchell Kamin.

Washington, DC - June 14, 2011 - (RealEstateRama) -- Senator Dianne Feinstein (D-Calif.) and Representative Henry A. Waxman (D-Los Angeles) today sent a letter to Secretary of the Department of Veterans Affairs, Eric Shinseki, and the Director of the Office of Management and Budget, Jack Lew, asking them to promptly finalize a request to Congress for construction projects, including $20 million for homeless veterans projects on the West Los Angeles campus.

June 13, 2011 - (RealEstateRama) -- “More than two years after the Home Affordable Modification Program (HAMP) was launched, I am pleased that the Administration has finally decided to take enforcement seriously and penalize three servicers who have, as a matter of standard practice, foreclosed on millions of homeowners, often without properly screening them for modifications or otherwise following program rules.

ALISO VIEJO, CA - June 3, 2011 - (RealEstateRama) -- Susan J. Barlow, chief executive officer of Newport Beach, Calif.-based Fiduciary Capital Inc., has been named to the board of directors for CT Realty Investors.

Los Angeles, CA - June 2, 2011 - (RealEstateRama) -- Los Angeles County Assessor John R. Noguez today announced completion of the decline in value review of homes in Los Angeles County. The annual review included all properties that had been granted a decline-in-value assessment for the 2010 assessment year as well as single-family homes or condominiums located in areas that continue to experience declines in the real estate market.