(RECAP: Fredericksburg Square‘s owners have shelved various plans for their building at 525 Caroline St. over the years, but never gave up on the thought of making more productive use of their entire property. Now, as demand for owner-occupied housing downtown is on the rise, Van and Deborah Perroy want to tear down the three concrete-block apartment buildings they own behind Fredericksburg Square and replace them with a townhouse development. Riverwalk Square would include three brick town houses facing Sophia Street. The Perroys would also build four more townhouses, plus a five-tale multifamily brick building with seven units on what is now Fredericksburg Square’s 26-space parking lot.)

Powered by WPeMatico

(RECAP: The chairman of the House Financial Services Committee has denounced major policy changes that HUD is making to the sale of government-insured nonperforming loans. Last month, HUD announced more than 10 changes to the program, including a requirement that buyers of FHA-insured nonperforming loans evaluate borrowers for principal reductions. But Rep. Hensarling (R-Texas) said the policy changes would help special interests at the expense of taxpayers. A press release from the House Financial Services Committee posits that HUD Secretary Julian Castro pushed the changes “to appease liberal critics and bolster his chances of being selected as Hillary Clinton’s running mate. Hardworking taxpayers deserve to know why Secretary Castro suddenly chose to expose them to greater losses and worsen the nation’s already unsustainable national debt,” Hensarling said Thursday.)

Powered by WPeMatico

(RECAP: U.S. Sens. Mark R. Warner (D-VA) and Bob Corker (R-Tenn.), members of the Senate Banking Committee, were joined by Senate colleagues in authoring a bipartisan letter to the director of the Federal Housing Finance Agency (FHFA). The letter encouraged Director Mel Watt to avoid taking steps that may facilitate the release of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac out of conservatorship without comprehensive reform.)

Powered by WPeMatico