HUD, (Housing and Urban Development), finally has reformed the RESPA Rules, in an effort to improve disclosure of key loan terms and closing costs paid by the consumer when they buy or refinance a property.
This final rule amends HUD’s regulations to further RESPA’s purposes by requiring more timely and effective disclosures related to mortgage settlement […]

Act III: The Final 2008 Financial Bailout Act (It is law!) >> In a 263-171 vote, the U.S. House of Representative today, October 3, 2008, approved a massive spending plan — voted down in an earlier form Monday (9.29.08) – that will supply hundreds of billions of dollars in a federal effort to ease the credit squeeze […]

The House of Representatives on Monday, September 29, 2008 @ 2pm est., defeated a $700 billion emergency rescue package. As a result, stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor.
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Leaders in the U.S. Congress have agreed, as of Sunday September 28, 2008 —  to the details […]

The omnibus housing bill, otherwise officially know as Foreclosure Prevention Act of 2008, passed  in a 72-13 vote Saturday (July 26, 2008), the Senate concurred with previous House amendments to HR 3221.
In effect, the passing of this bill, grants the Bush administration’s request to give the Treasury Department the temporary authority to buy an unlimited amount of the […]

July 1st is almost upon us. And in the current edition of the Maryland Register, the State Department of Assessments and Taxation (SDAT) has published its proposed regulations to implement the recordation and transfer taxes on the transfer of a controlling interest in a real property entity. Have  the loopholes been closed?

This issue is not one of first impression […]

Real Estate Settlement Procedures Act (otherwise know as “RESPA”) reform is back, and in a big way. On Friday, March 14, 2008, the U.S. Department of Housing and Urban Development (“HUD”) published its proposed regulations to reform RESPA. 
Ironically, HUD partially titles its rule a “Proposed Rule to Simplify and Improve the Process of Obtaining […]

As reported by Matt Carter of Inman News, the Bush administration on Monday, March 31, 2008 — in reaction to the financial and real estate markets collapse — has put forward a sweeping plan for reorganizing the regulation of the financial system that would include national licensing standards for mortgage brokers and the elimination of […]

The Washington Business Journal’s Melissa Castro uncovers a buried treasure, deep within the  2008 Economic Stimulus Act.
Discover a lucrative perk for landlords and commercial tenants that’s there for the taking. In an effort to revive the commercial real estate industry, Congress increased the amount of construction costs that can be written off in the first year for improvements to […]

As stated in our earlier Blog posting of December 28, 2007, Maryland withholding tax requirements for non-resident entities changed, effective October 22, 2007. It’s very important to note that the regulations were revised to alter the definitions of resident and non-resident entities, as well.  Previously, a non-resident entity could qualify or register to do business in Maryland […]

HUD has just released the new loan limits, as mandated by the Economic Stimulus Package of 2008.  This will immediately affect the Jumbo Residential marketplace.

FHA and the GSE’s can temporarily increase loan limits and insure larger mortgages at a more affordable price in high cost areas of the country.  Here’s the link to see for yourself. […]