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Finance, Economy & Government Issues Archive


Treasury Throws 5 Billion Dollar Lifeline to Auto Suppliers

RISMEDIA, March 23, 2009-(MCT)-Adding to the growing list of economic sectors going under the protective wing of the Government, the Treasury Department announced that U.S. auto-parts suppliers will receive up to $5 billion in a taxpayer-funded revolving line of credit. ...


Despite Economic Crisis, Solar Energy in High Demand

RISMEDIA, March 23, 2009-The Solar Energy Industries Association (SEIA) released its 2008 U.S. Solar Industry Year in Review, highlighting a third year of record growth. SEIA reports 1,265 megawatts of solar power of all types were installed in 2008, raising total capacity by 17% to 8,775 megawatts (MW). The 2008 ...


Fed Takes Action to Bolster Lending

RISMEDIA, March 20, 2009-(MCT)-The Federal Reserve escalated its war on the nation's credit crisis, announcing that it would more than double the amount of money it will spend in the coming year in an aggressive effort to force down interest ...


A Lending Hand – HUD and DOT Announce Partnership to Promote Sustainable Communities

RISMEDIA, March 21, 2009-U.S. Department of Housing and Urban Development (HUD) secretary Shaun Donovan and U.S. Department of Transportation (DOT) secretary Ray LaHood announced a new partnership to help American families gain better access to affordable housing, more transportation options, and lower transportation costs. ...


Reverse Mortgages Serve as Lifeline for Seniors

RISMEDIA, March 20, 2009-In the midst of the current credit crunch, we tend to overlook the financial needs of senior homeowners, especially those who own their homes free and clear or are pretty close to being debt free. However, these ...


Central Texas Real Estate Sales Volume Down, but Home Prices Show Modest Increase

RISMEDIA, March 20, 2009-According to the February 2009 Multiple Listing Service report by the Austin Board of Realtors® (ABoR), the Austin-area home sales volume remains down year-over-year, but home prices have risen compared to February 2008. ...


Small Businesses to Benefit as Credit Lines are Loosened

RISMEDIA, March 19, 2009-(MCT)-As the economy continues to suffer and jobs are lost and business owners continually push to keep things moving forward so they are in the right place at the right time when the market turns, President Barack ...


Credit Markets and Economy Add Pressure to Commercial Mortgage Performance

RISMEDIA, March 17, 2009-The weakening economy and continued credit crunch contributed to increases in commercial/multifamily mortgage delinquencies during the fourth quarter of 2008, according to the Commercial/Multifamily Delinquency Report from the Mortgage Bankers Association (MBA). ...


HUD Awards $12 Million in Grants to Bring Jobs, Economic Independence to Public Housing Residents

RISMEDIA, March 16, 2009-The U.S. Department of Housing and Urban Development (HUD) awarded nearly $12 million in grants to 207 public housing agencies across the U.S. to help public housing residents find jobs that lead them toward economic independence. ...


Mortgage and Financial Markets Continue to Slow Housing Activity

RISMEDIA, March 13, 2009-The National Association of Home Builders (NAHB) told Congress that the housing sector is still being significantly affected by the upheaval in the financial and mortgage markets that started in 2007, and there is deep concern that these financial dislocations will increase the depth and length of ...


Appraisal Institute Urges Congress to Address Feeble Oversight

RISMEDIA, March 13, 2009-In testifying before Congress yesterday, the Appraisal Institute told lawmakers that mortgage reform legislation is needed to address structural weaknesses in mortgage industry regulation. Calling current regulatory oversight "feeble," the Appraisal Institute called upon Congress to provide state and federal appraisal oversight agencies with greater enforcement power, ...


Committee Passes Small Business Administration Budget Recommendation

RISMEDIA, March 13, 2009-The House Committee on Small Business submitted its recommendations for the Small Business Administration's (SBA) Fiscal Year 2010 budget, doubling previous budgets by proposing $1.43 billion in funding for agency programs that will help local businesses stay afloat and promote economic recovery. The recommendations submitted by the ...


Predatory Lending Practices among Latinos to be Addressed before Congress

RISMEDIA, March 12, 2009-The National Council of La Raza (NCLR), the largest civil rights and advocacy organization in the United States, will testify before the U.S. House Committee on Financial Services today on Latino wealth-building priorities and reforming the nation's broken mortgage system. Since the hearing will look at consumer ...


Half-Million New Jersey Homeowners Could Miss Property Tax Appeal Deadline

RISMEDIA, March 12, 2009-A property tax analytics expert warns that 500,000 or more New Jersey homeowners may lose an average savings of $1,919 by failing to file their tax appeals by April 1. ...


Will the Stimulus Benefit Homeowners and Buyers?

RISMEDIA, February 18, 2009-"There are four primary sections of the economic stimulus plan that will benefit home owners and buyers," said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. According to Nicholas, these include: ...


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