News
February 15, 2010 Posted by Idaho RealEstateRama
Boise, ID - February 15, 2010 - (RealEstateRama) — Based on recently released national fourth-quarter financial performance statistics, Idaho-based financial institutions are not immune from the effects of the recession. Gavin Gee, director of the Idaho Department of Finance, reported that Idaho-headquartered commercial banks have experienced increased amounts of non-current loans and loan charge-offs, an increase in foreclosed real estate properties and, as a group, negative earnings for the year. In his budget presentation to JFAC this morning, Gee said, “Our Idaho financial institutions are caught in an economic upheaval that they did not create, one caused by a culture of risk carried out by large money center institutions, not traditional lenders like those we have in Idaho.
$69,600 awarded to homeless shelters and service providers across Idaho
February 11, 2010 Posted by IHFA
Home Partnership Foundation responds in time of need. BOISE, ID - February 11, 2010 - (RealEstateRama) — The Home Partnership Foundation, brought to you by Idaho Housing and Finance Association, has awarded 13 emergency response grants in the amount of $69,600 to homeless shelters and service providers across the state. These funds are intended to support the greatest needs of housing service providers statewide including shelter operations and capital improvements, funding for motel vouchers (when shelters are full), as well as homelessness prevention efforts.
$8,500 contributed to Finally Home! Homebuyer Education
February 2, 2010 Posted by IHFA
BOISE, ID - February 2, 2010 - (RealEstateRama) — US Bancorp Foundation recently contributed $8,500 to the Finally Home!® Homebuyer Education Program administered by the Idaho Partners for Home Buyer Education, Inc. (IPHBE, Inc.). US Bancorp has contributed on an annual basis since the program’s inception.
State Mortgage Regulators Announce Launch of “NMLS Consumer Access”
January 28, 2010 Posted by Idaho RealEstateRama
January 28, 2010 - (RealEstateRama) — Today the Nationwide Mortgage Licensing System & Registry (NMLS)—a mortgage licensing system operated by state financial regulators, including Idaho—is launching “NMLS Consumer Access.” NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed mortgage companies, branches, and individuals currently licensed through NMLS
Settlement Gains Refunds for Idaho Mortgage Modification Victims
December 23, 2009 Posted by Idaho RealEstateRama
Boise, ID - December 23, 2009 - (RealEstateRama) — Twelve Idaho homeowners who paid a Meridian man, Paul Clarence Aughtry, IV, for mortgage loan modifications will receive refunds totaling $12,400 as a result of settlement agreements with Attorney General Lawrence Wasden and the Idaho Department of Finance. As a result of the actions, Aughtry is prohibited from engaging in loan modification activities in Idaho.
$6,000 contributed to Finally Home! Homebuyer Education
December 21, 2009 Posted by Idaho Department of Finance
BOISE, ID - December 21, 2009 - (RealEstateRama) — Wells Fargo Foundation recently contributed $6,000 to the Finally Home!® Homebuyer Education Program administered by the Idaho Partners for Home Buyer Education, Inc. (IPHBE, Inc.). In total, Wells Fargo has contributed $100,000 to the program, $5,000 of which was dedicated to translation of the course textbook into Spanish.
Qualified homebuyers can now benefit from tax credit extension
December 21, 2009 Posted by IHFA
BOISE, ID - December 21, 2009 - (RealEstateRama) — Qualified homebuyers can now take advantage of the recent extension and expanded provisions of the federal homebuyer tax credit of $8,000 for first-time homebuyers and $6,500 for homebuyers who have lived in their home for the past five years. To be eligible for this tax credit, homebuyers must sign a contract for a new home by April 30, 2010 and close on the home by June 30, 2010.
Commission rules on building contractors’, highway districts’ petitions
December 3, 2009 Posted by Idaho RealEstateRama
December 3, 2009 - (RealEstateRama) — The Idaho Public Utilities Commission is granting in part and denying in part petitions for reconsideration filed by area highway districts and, in the same case, denying a petition for reconsideration by the Building Contracts Association.
Idaho Joins Other States in Efforts to Enhance Supervision of Multi-State Mortgage Companies
December 2, 2009 Posted by Idaho Department of Finance
December 2, 2009 - (RealEstateRama) — Gavin Gee, director of the Idaho Department of Finance, today announced the signing of an updated agreement to cooperatively work with other state mortgage regulators in overseeing the activities of state-licensed mortgage companies operating across state lines
Simpson Supports Extension of Homebuyer Tax Credit
November 6, 2009 Posted by Idaho Department of Finance
Washington, DC - November 6, 2009 - (RealEstateRama) — The U.S. House of Representatives today overwhelmingly passed legislation extending the First-Time Homebuyer Tax Credit Provision through April 30, 2010. The bill also creates a new tax credit for move-up buyers who have lived in their current residence for at least five years. The expanded tax credit was included as part of H.R. 3548, legislation that provides an extension of federal unemployment insurance benefits.
Up to $20,000 down payment assistance available to qualified first-time homebuyers for a limited time
November 5, 2009 Posted by Idaho RealEstateRama
BOISE, ID - November 5, 2009 - (RealEstateRama) — Are you a first-time homebuyer? If so, you may be eligible for down payment assistance funds of up to $20,000 in conjunction with a mortgage loan from IdaMortgage, brought to you by Idaho Housing and Finance Association (IHFA), to purchase your new home. These down payment assistance funds are only available until Jan. 1, 2010, so you must act quickly to take advantage of this funding.
Simpson Cosponsors Legislation to Provide Estate Tax Relief
November 3, 2009 Posted by Idaho RealEstateRama
Washington, DC - November 3, 2009 - (RealEstateRama) — Idaho Congressman Mike Simpson is a cosponsor of H.R. 3095, the Estate Tax Relief Act of 2009. The legislation increases the estate tax exemption to $5 million per person and reduces the top rate to 35% in equal increments over ten years.
Meridian Real Estate Fund Manager is Charged With Defrauding Idaho Investors
October 27, 2009 Posted by Idaho Department of Finance
Boise, ID - October 27, 2009 - (RealEstateRama) — The Idaho Department of Finance has filed a complaint in Ada County District Court against Sheila Lea Jones. Jones, owner of Vitruvian Investment Group, solicited investors to pool their money for investment into a real estate fund managed by Jones. The fund purportedly invested in short-term construction and development loans, as well as conventional real estate transactions including both commercial and residential loans. The defendant allegedly raised over $3.7 million from at least 40 investors and offered annual returns of 8 percent to 10.5 percent. The State’s complaint alleges violations of the anti-fraud provisions of the Idaho Securities Act and violations of the Idaho Financial Fraud Prevention Act. Vitruvian Investment Group filed for Chapter 7 bankruptcy protection in November 2008
Department of Finance Orders Meridian Mortgage Loan Modification Company to Cease Further Business Activities
October 14, 2009 Posted by Idaho Department of Finance
Boise, ID - October 14, 2009 - (RealEstateRama) — The Idaho Department of Finance announced today the issuance of a Cease and Desist Order against Meridian-based International Co-op LLC for engaging in unlicensed mortgage loan modification activities and for illegally charging distressed Idaho homeowners exorbitant upfront fees.
Harrison joins Idaho Partners for Homebuyer Education, Inc.
September 1, 2009 Posted by IHFA
September 1, 2009 - (RealEstateRama) — Idaho Partners for Homebuyer Education, Inc. (IPHBE), welcomes Heather Harrison as Finally Home!® Homebuyer Education/Counseling Administrator. Harrison administrates the Finally Home!® classes held across the state in partnership with regional training partners, and the English and Spanish classes available online. Harrison will also coordinate the free statewide housing counseling program that Idaho Housing and Finance Association offers to Idahoans who have questions about meeting their mortgage payment, rental issues, reverse mortgage, or credit counseling before purchasing a home
