(RECAP: An 80-unit apartment complex for seniors age 55 and above could be ready for tenants to go in by Labor Day at Mintbrook, the development of single family homes and townhouses off Marsh Road at Route 28 in Bealeton. Mintbrook Senior Apartments is being developed by The Humanities Foundation, a not-for-profit organization that provides affordable housing. As a non-profit, the Humanities Foundation secures federal low-income tax credits. That financing requires that the housing only goes to those who earn less than 40 to 60 percent of the area median income. The three-tale complex now under construction will have one and two-bedroom apartments.)

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(RECAP: A plot to turn the Whittaker Memorial Hospital into apartments is moving forward, despite a low preliminary ranking from the Virginia Housing and Development Authority for low-income tax credits. Even if the VHDA does not choose the project to receive tax credits later this year, the project will still happen, said Gerald “Junior” Burr, owner of Chesterfield County-based Canterbury Enterprises. “We’re very excited about the project and still moving forward,” said Burr, whose firm has done similar historic renovations in the Richmond area. Construction will start hopefully sometime in the fourth quarter of this year, and be finished a year after that.)

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(RECAP: The Consumer Financial Protection Bureau adopted the TILA-RESPA Integrated Disclosure (TRID) rule as part of its “Know Before You Owe” initiative. The TRID rule places new responsibility on lenders for the timing, accuracy and completeness of disclosures, requiring lenders to revamp their disclosure and closing processes. Fannie Mae’s Economic & Strategic Research Group surveyed senior mortgage executives in February, after TRID’s taking effect in October 2015, to examine lenders’ experiences with implementing TRID requirements and lenders’ views about TRID’s impact on the competitiveness of the mortgage industry. The survey results confirm in large measure the sense that lenders and their service providers have had difficulties in transitioning to TRID, particularly among smaller lenders. Many small to mid-sized lenders indicate that larger institutions are able to invest more to upgrade systems and have in-house compliance resources to increase efficiency and competitive advantages.)

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