Archives

WASHINGTON, DC - March 27, 2013 - (RealEstateRama) -- The overall quality of first-lien mortgages serviced by large national and federal savings banks improved from the prior quarter and from the same period a year ago according to a report released today by the Office of the Comptroller of the Currency (OCC).

WASHINGTON, D.C. - March 27, 2013 - (RealEstateRama) -- Citing the irregularities with the recording of mortgages and assignments that negatively impact municipalities and consumers, Attorney General Peter F. Kilmartin filed legislation to require that all transfers of a mortgage interest on residential property be recorded to provide a clean chain of title. The legislation, S0547 sponsored by Senator William Conley (District 18, East Providence, Pawtucket) and H5512 sponsored by Representative Brian Kennedy (District 38, Hopkinton, Westerly), is scheduled to be heard before both the Senate Committee on Judiciary and House Corporations Committee on Tuesday, March 26, 2013.

WARWICK, RI - March 25, 2013 - (RealEstateRama) -- Today at the Rhode Island Coalition for the Homeless annual awards luncheon, U.S. Senator Jack Reed presented Sue Bodington, Deputy Director for Programs at Rhode Island Housing, with the 2013 Jack Reed Advocacy Award for her deep and abiding dedication to promoting affordable housing and combating homelessness in Rhode Island for more than 30 years

WASHINGTON, D.C. - March 20, 2013 - (RealEstateRama) -- As witnessed over the last several years, foreclosures lead to vacant homes, which destabilize neighborhoods and further drive down property values as well as having a devastating impact on the families that lose their home. In response, Attorney General Peter F. Kilmartin filed legislation to the Rhode Island General Assembly requiring mortgage service providers to participate in good faith in a conciliation process administered by a HUD-approved independent agency. The goal of the process is to facilitate an agreement between the lender and homeowner that will avoid a foreclosure. The legislation, H5335S0416, is sponsored by Representative Raymond Gallison and Senator Donna Nesselbush

WASHINGTON, D.C. - March 20, 2013 - (RealEstateRama) -- As part of the National Mortgage Settlement funding for local efforts to help homeowners facing foreclosure, Attorney General Peter F. Kilmartin today announced a $150,000 grant to the Housing Action Coalition of Rhode Island. Formerly known as the Statewide Housing Action Coalition, the Housing Action Coalition of Rhode Island is a non-profit advocacy group that works to develop, maintain and secure affordable living situations for low-income residents of Rhode Island.

Providence, RI - March 11, 2013 - (RealEstateRama) -- Governor Lincoln Chafee, U.S. Senator Jack Reed and U.S. Senator Sheldon Whitehouse joined Omni Development Corporation, WinnDevelopment, Rhode Island Housing and other community partners including HUD, R.I.’s Housing Resources Commission, Rhode Island LISC and Bank of America Merrill Lynch today to celebrate the opening of a major revitalization effort on the sites of previously distressed and foreclosed properties in Providence’s West End

NORTH KINGSTOWN, RI - March 4, 2013 - (RealEstateRama) -- In an effort to create jobs in Rhode Island and strengthen America’s energy independence, U.S. Senator Jack Reed (D-RI) and a bipartisan group of U.S. Senators and U.S. Representatives are introducing legislation to provide financial incentives for the investment and production of offshore wind energy. The Incentivizing Offshore Wind Power Act would create an investment tax credit for the first 3,000 megawatts of offshore wind facilities placed into service, which is an estimated 600 wind turbines.

WASHINGTON, D.C. - February 22, 2013 - (RealEstateRama) -- Attorney General Peter F. Kilmartin today reported on the progress made by the five mortgage service providers (Ally/GMAC, Bank of America, Citi, JPMorganChase, and Wells Fargo) at the center of the National Mortgage Settlement. According to the information reported by the five mortgage service providers, for the 4th quarter (October 1, 2012 through December 31, 2012), 810 Rhode Island homeowners have received financial relief, valued at $58,646,875. In addition, another 450 Rhode Island homeowners are in the process of receiving financial relief, including first lien modifications and refinancing

WASHINGTON, D.C. - February 20, 2013 - (RealEstateRama) -- As part of the National Mortgage Settlement funding for local efforts to help homeowners facing foreclosure, Attorney General Peter F. Kilmartin today announced two grants totaling $215,000 to support mortgage foreclosure education and outreach to area community agencies. Attorney General Kilmartin announced a $155,000 grant to Progreso Latino to expand the agency's Better Living Project and a $60,000 grant to HousingWorks RI to research and report on foreclosures and foreclosure prevention programs over the next three years.

PROVIDENCE - February 14, 2013 - (RealEstateRama) -- The United States District Court for the District of Rhode Island has just approved the State's offer to purchase the remaining land at Rocky Point in Warwick for the development of a future State Park. The U.S. Small Business Administration (SBA), as Receiver for Moneta Capital, presented the State's offer to purchase the 82-acre property for $9.65 million to the federal District Court for final approval at a hearing held this afternoon in Providence

WASHINGTON, DC - February 7, 2013 - (RealEstateRama) -- The Department of Housing and Urban Development today allocated over $3 million in Community Development Block Grant (CDBG) Disaster Recovery funding to Rhode Island, representing the first round of CDBG grants from the Disaster Relief Appropriations Act of 2013 signed into law by President Obama on January 29. This is the fastest HUD has allocated CDBG funding to grantees following the passage of a funding bill

WASHINGTON, D.C. - January 31, 2013 - (RealEstateRama) -- To support foreclosure remediation effort already underway in Rhode Island and educate new homeowners, Attorney General Peter F. Kilmartin announced a $375,000 grant to the Housing Network of Rhode Island. Funded through the National Mortgage Settlement between the five largest mortgage service providers and attorneys general nationwide, the grant will support three key areas: homeowner counseling, homebuyer education and outreach.

PROVIDENCE, R.I. - January 22, 2012 - (RealEstateRama) -- Inman News® has announced Residential Properties Ltd. Vice President of Marketing and Technology, Tom Flanagan as a member of the Inman 100, a comprehensive list of the 100 Most Influential Real Estate Leaders. This annual list recognizes industry members who personify the ideals of leadership, ingenuity, strength, conviction, power, persistence, perseverance, and progress.

WASHINGTON, DC - January 18, 2012 - (RealEstateRama) -- Key provisions championed by U.S. Senator Jack Reed (D-RI) to help protect consumers from questionable mortgage practices will be going into effect as part of the Consumer Financial Protection Bureau’s (CFPB) new rules against foreclosure abuses

PROVIDENCE - December 28, 2012 - (RealEstateRama) -- The Department of Environmental Management has acquired four acres of land in Westerly that will enable the creation of an excellent fishing and boating access site on the Pawcatuck River