Friday, April 19, 2013

Chinese Drywall Settlement News

While the problems with drywall imported from China had little impact on the Upstate, we thought you might be interested in the latest news regarding a settlement in the legal dispute.

On February 7, 2013, Judge Eldon Fallon of the U.S. District for the Eastern District of Louisiana, entered an Order and Judgment approving five class‐action settlements that will make available millions of dollars to remediate homes built with Chinese drywall. According to published reports the settlements will benefit more than 10,000 property owners. The order and judgment effectively end the Chinese Drywall Multidistrict Litigation. Judge Fallon’s decision stems from a hearing in November held to help him gauge the fairness of five separate but related settlement agreements between plaintiffs' lawyers and companies that made, supplied or installed the defective Chinese drywall. The settlements were certified for: Interior/Exterior Building Supply, LP; Banner; L&W Supply Corp.; Knauf and Global participating builders, suppliers, and installers. They resolve all claims, counterclaims, and third‐party claims among the settling parties.

The manufacturers of the drywall in question generally fell into two groups: the Knauf entities and the Taishan entities. The Taishan entities are not settling and continue to argue that the court has no personal jurisdiction over them. That issue is currently the subject of an appeal pending before the Fifth Circuit Court of Appeals.

The “InEx” Settlement
This agreement provides for the tendering of all of InEx’s primary insurance proceeds, in the amount of $8,000,000, for the benefit of a national class with claims against InEx involving Chinese drywall.

The Banner Settlements
The Settlement agreement provides that Banner and its insurers will provide $54,475,558.30 for the benefit of a nationwide class consisting of all persons or entities with claims against Banner arising from or otherwise related to Chinese drywall.

The L&W Settlement
The L&W Settlement is a component of the plan for global resolution of the Knauf/KPT supply chain. Financial details were not revealed in the Order.

The Knauf Settlement
The agreement creates two funds from which plaintiffs may recover: the Remediation Fund and the Other Loss Fund. The Remediation Fund is uncapped and will pay to repair roughly 5,200 properties, mostly in Florida, Louisiana, Mississippi and Alabama. The Other Loss Fund, reported to be capped at $30 million, will reimburse for certain provable economic loss and provide a review process for individuals who believe they have bodily injury claims. In addition, attorneys' fees and costs will be paid. This settlement is intended to resolve claims made in filed actions which arose out of KPT Chinese drywall installed in properties in the United States. Importantly, only those who filed a lawsuit in the litigation as of December 9, 2011 are eligible as class members.
The Global Settlement
The Global Settlement involves various builders, suppliers, and installers and provides for a total payment of $70,570,000.00 for class members regardless of the type or brand of Chinese drywall in their properties and regardless of whether they filed their claims in the MDL or another forum. The settlement does not include any properties located in Virginia (those properties are the subject of a separate class action).

Building a Quality Home Does not Always Equal Running a Sound Business

During the 2013 International Builders’ Show in Las Vegas, Tom Stephani, MIRM, president of Custom Construction Concepts Inc. based in Crystal Lake, Ill., outlined the following 10 business mistakes builders typically make and how to avoid them:

1. Fail to see a collapse coming. All markets are local, and they all go through an up-and-down cycle, Stephani said. He said builders need to keep tabs of warning signs by monitoring the number of starts in their area, being prudent with their specs and examining fluctuations in the cost of land.

2. Don’t ask for help. Too often, builders stubbornly cling to the notion that they have all the answers and that the competition is their enemy, said Stephani. The best way for builders to find answers to improve their business is to become actively involved in their local and national builders associations. Some of the benefits of membership include advocacy, education, networking and joint marketing resources, he said. “Through NAHB, I have a network of hundreds of people I’ve met over the past years,” said Stephani. “That knowledge sharing is immense. The 20 Clubs provide that opportunity as well.”

3. Alienate Realtors. The purpose of Realtors is to sell home, and builders are being penny wise and pound foolish when they try to work around them and avoid the commission fee because Realtors will often bypass the builder’s properties when showing prospective clients homes to sell. Stephani said it is wise to use Realtors because they are professional at marketing and sales, provide better access to pre-qualified clients and can help to manage client expectations.

4. Fail to set realistic expectations. To remedy this, Stephani said that the builder must make it clear to their clients that they are in charge of the project. The customer must make selections on time, be able to afford what they want, and must not attempt to supervise subcontractors or suppliers. The builder must communicate to the client that changes to the job require time and money, that delays during construction are common and that workers will not necessarily be on the job eight hours every day. “Let the client know there could be bumps in the road but that they will be happy in their home when they move in,” he said.

5. Ignore customer service. Those who ignore this item because there is no money in it, or because they are too busy, do so at their own peril. Good customer service is essential, Stephani said, and the best way to provide it is to see issues from the customer’s perspective. Builders who have a willingness to exceed customer expectations and to do what is promised often reap great rewards through word-of-mouth referrals.

6. Fail to price for profit. Builders often fail to price their homes properly due to competition, market conditions, inaccurate appraisals and pressure from Realtors. As a result, their cash flow becomes critical and they try to compensate by increasing volume. To fix this problem, Stephani suggests that builders better manage their specs, tighten financial controls and reporting, and develop a pricing approach based not just on cost but also on location.

7. Don’t update the business plan. “If you don’t put a plan in writing it can guarantee you won’t reach your goals,” he said. Builders should update their business plans on an annual basis, he added.

8. Fail to manage conflict effectively. Too often, builders do not recognize the emotional state of owners during construction and are not committed to win-win agreements with them, Stephani said. Most builder/client conflicts arise from disagreements about what was promised and what was delivered. Clear and concise wording of the contract; a complete set of plans and specifications; and good documentation of all communication are essential.

9. Don’t manage design and budget. Too often, builders fail to properly manage their clients’ expectations, fail to control the architect and let clients take control over their subcontractors and suppliers. Builders need to be up front with their clients, let them know what to expect during the building process and work in tandem with the architect.

10. Take on the client from hell. A true client from hell often displays wild mood swings; obsesses over minor details; invites conflict; demands perfection but is not willing to pay for it; creates problems for subcontractors and employees; berates, belittles and badmouths the builder; refuses to pay until sued; and is never happy. To avoid this situation, Stephani recommends that builders go with their gut feeling when interviewing a client, evaluate their personalities and traits, take note of their occupation and observe whether a husband and wife are openly arguing – which can be a warning sign.

Source: National Sales and Marketing Council eNews

NAHB-Supported Bill Will Help Builders Obtain Construction Loans

Credit is the lifeblood of housing. If builders can't get credit, they can't build homes, they can't hire workers and they can't stay in business.

This is why it is absolutely vital to get credit pumping back into the housing sector again. In the current regulatory climate, lenders have drastically cut back on acquisition, development and construction (AD&C) loans that are necessary to allow builders to construct new homes.

Since the earliest days of the housing downturn, NAHB has worked very closely with concerned lawmakers in creating legislation to open up the lines of credit for new housing production to help spur job growth, support a recovery in the housing market and keep the economy moving forward.

At NAHB's urging, Reps. Gary Miller (R-Calif.) and Carolyn McCarthy (D-N.Y.) on March 19 introduced H.R. 1255, the Home Construction Lending Regulatory Improvement Act of 2013. The bipartisan legislation would address specific regulatory obstacles to the credit needs of the nation's home builders and is identical to legislation championed by Miller in the previous Congress.

"We commend Reps. Miller and McCarthy for acting to remove a major impediment to the housing recovery by introducing legislation that will enable home builders to obtain AD&C loans in order to put construction crews back to work and to meet rising demand across much of the nation for new homes," said NAHB Chairman Rick Judson.

The bill is a significant advancement in NAHB's overall strategy to help members find the credit they need to move forward with new or existing projects.

Home builders cannot keep their doors open and create jobs in their communities if they cannot get credit to build even pre-sold homes. And when lenders call in performing loans, everyone suffers. Workers get laid off, sound projects go uncompleted and banks take possession of unfinished property.

"In many housing markets where demand is increasing and the supply of new homes remains near record-lows, builders still cannot get the proper financing to meet the needs of home buyers because credit remains very tight in the aftermath of the housing downturn," said Judson.

This is hurting job creation and economic activity in countless communities across the land. Building 100 single-family homes creates more than 300 full-time jobs and generates $8.9 million in federal, state and local tax revenue. That doesn't even count the increase in annual property taxes that cash-strapped state and local governments rely on to fund essential services, including jobs for local school teachers, police and fire departments, and road repairs.

In addressing regulatory areas that have unnecessarily hampered the flow of credit for new housing production, H.R. 1255 would remove barriers to lending while preserving the regulators' ability to assure the safety and soundness of the financial institutions they oversee.

FHFA: Federal Housing Finance Agency Reports Mortgage Interest Rates

The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.43 percent based on loans closed in February. There was an increase of 0.08 from the previous month.

The average interest rate on conventional, 30-year, fixed-rate mortgage loans of $417,000 or less increased 9 basis points to 3.62 in February. These rates are calculated from the FHFA’s Monthly Interest Rate Survey of purchase-money mortgages (see technical note). These results reflect loans closed during the February 22 - 28 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late-January.

The contract rate on the composite of all mortgage loans (fixed- and adjustable-rate) was 3.42 percent in February, up 8 basis points from 3.34 percent in January. The effective interest rate, which reflects the amortization of initial fees and charges, was 3.55 percent in February, up 9 basis points from 3.46 percent in January.

This report contains no data on adjustable-rate mortgages due to insufficient sample size.

Initial fees and charges were 0.99 percent of the loan balance in February, down 4 basis points from January. Twenty percent of the purchase-money mortgage loans originated in February were “no-point” mortgages, up from 26 percent in January. The average term was 27.1 years in February, unchanged from January. The average loan-to-price ratio in February was 77.2 percent, up 0.8 percent from 76.4 percent in January. The average loan amount was $258,700 in February up $4,000 from $254,700 in January.

NAHB: Mortgage Interest Deduction overwhelmingly benefits families earning less than $200,000 per year

According to a new report by NAHB, the vast majority of taxpayers claiming the mortgage interest deduction, 91 percent, earn less than $200,000 per year.

 In South Carolina the percentage is higher: 94.1 percent. 

Higher cost states, like New York and California, have lower home ownership rates and therefore lower use of the mortgage interest deduction.  The highest percentage of claimants earning less than $200,000 and using the mortgage interest deduction can be found in Idaho, at 95.4 percent.  The lowest percentage of claimants is in Connecticut, at 87.4 percent.

Read the complete report at Eye on Housing by clicking here.

NAHB: Lower Operating Costs Mean New-Home Buyers Can Afford More House

During New Homes Month in April, the National Association of Home Builders (NAHB) is showing home buyers why they can afford a higher-priced home—if it’s new construction. Using data from the Census Bureau and Department of Housing and Urban Development’s 2011 American Housing Survey, NAHB found that buyers can purchase a more expensive newer home and achieve the same annual operating costs as an older, existing home.

“Home buyers need to look beyond the initial sales price when considering whether to buy new construction or an existing home,” said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “They will find that with the higher costs of operating an older home, they can often afford to spend more to buy a new home and still have annual operating costs that fit their budget.”

NAHB’s study first looked at how utility, maintenance, property tax and insurance costs vary depending on the age of the structure. It found that homes built before 1960 have average maintenance costs of $564 a year, while a home built after 2008 averages $241. Similarly, operating costs average nearly 5 percent of the home’s value for pre-1960 structures, while they average less than 3 percent when the home was built later than 2008.

The study then compared the first year after tax cost of owning a home by the year the house was built, taking into account the purchase price, mortgage payments, annual operating costs and income tax savings. This data showed that a buyer can afford to pay 23 percent more for a new house than for one built before 1960 and still maintain the same amount of first year annual costs.

While mortgage payments will be greater with the higher purchase price of a newly-built home, the lower operating costs mean the home buyer will have annual costs that are about the same as if they’d bought a lesser-priced, older home with a smaller mortgage payment and higher operating expenses.

Other benefits of new homes include open space floorplans, creative storage options and entertainment resources that cater to modern lifestyles, as well as the safety consideration that the structure was built and wired to modern codes and standards.

“For a family working with a fixed annual budget, new-construction homes offer outstanding comfort, convenience and overall cost savings,” said Judson. “Put that together with today’s near-record low interest rates and competitive prices, and the time has never been better to buy a new home.”

Home buyers can access home buying and home building information and resources on NAHB’s website

New I-9 Form Must be Used After May 7

Federal law places an affirmative duty on employers to verify the identity and work authorization of all newly hired persons through completion of the Employment Eligibility Verification Form I-9 within three business days after the individual is hired. The U.S. Citizenship and Immigration Services (USCIS) agency has issued a new Form I-9 for Employment Eligibility Verification. This new form is available for immediate use, but employers may continue to use the previous version (original expiration date 8/31/12) until May 7, 2013.

After May 7, 2013, all employers must use only the newly revised Form I-9 (expiration date 3/31/2016) for each new employee hired, or be subject to a civil penalty if audited. Be advised that the new form requires additional data, and expands the form from one page to two. Employers are encouraged to familiarize themselves with the new format and instructions. The USCIS is conducting several free I-9 webinars throughout the month to provide answers to any questions NAHB members may have about the new form. Download the new form and instructions at:

FHFA: Refinance Volume Remains Strong Through January

Underwater Borrowers Continue to Benefit from HARP

The Federal Housing Finance Agency (FHFA) today released its January 2013 Refinance Report, which shows that refinance volume remained high through the first month of this year. There were nearly 470,000 refinances in January, with roughly 97,600 completed through the Home Affordable Refinance Program (HARP). This brings total HARP refinances to more than 2.2 millionsince the program’s inception in April 2009.

Also in the January 2013 report:
  • Borrowers in January with loan-to-value ratios greater than 105 percent accounted for 47 percent of the HARP refinance volume.
  • The number of completed HARP refinances for deeply underwater borrowers continued to represent a significant portion of total HARP volume. In January, 25 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.
  • HARP continued to account for a substantial portion of total refinance volume in certain states. In January, 66 percent of total refinances in Nevada and 56 percent of total refinances in Florida were through HARP.
  • Also in January, 18 percent of HARP refinances for underwater borrowers were for shorter-term 15- and 20-year mortgages, which build equity faster than traditional 30-year mortgages.
Click here to read the Refinance Report at

Thursday, April 18, 2013

NAHB: Statement from NAHB Chairman Rick Judson on Senate Immigration Bill

Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C., issued the following statement regarding comprehensive immigration reform unveiled today by a group of eight bipartisan senators:

“NAHB congratulates Sens. Michael Bennet (D-Colo.), Richard Durbin (D-Ill.), Jeff Flake (R-Ariz.), Lindsey Graham (R-S.C.), John McCain (R-Ariz.), Robert Menendez (D-N.J.), Marco Rubio (R-Fla.) and Charles Schumer (D-N.Y.) for their efforts to advance comprehensive immigration reform.

“We are pleased that the bill would create a fair, efficient and workable employee verification system that preserves the direct employer-employee relationship and the current knowing liability standard so that employers may easily understand their role and obligations. We also appreciate that the measure contains strong protections for employers against prosecution and penalties when acting in good faith and also includes provisions to make the system workable for our nation’s small businesses.

“This bipartisan Senate bill represents a responsible solution to bringing the current undocumented population out of the shadows, and NAHB also welcomes the work that has been done to create a new visa program for the low-skill sector. However, we need to improve the size and scope of this program, and NAHB looks forward to working with the U.S. Senate to improve the bill as the legislative process advances.”

NAHB: Rising Costs Put Squeeze on Builder Confidence in April

Facing increasing costs for building materials and rising concerns about the supply of developed lots and labor, builders registered less confidence in the market for newly built, single-family homes in April, with a two-point drop to 42 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.

“Many builders are expressing frustration over being unable to respond to the rising demand for new homes due to difficulties in obtaining construction credit, overly restrictive mortgage lending rules and construction costs that are increasing at a faster pace than appraised values,” said Rick Judson, National Association of Home Builders (NAHB) Chairman and a home builder from Charlotte, N.C. “While sales conditions are generally improving, these challenges are holding back new building and job creation.”

“Supply chains for building materials, developed lots and skilled workers will take some time to re-establish themselves following the recession, and in the meantime builders are feeling squeezed by higher costs and limited availability issues,” explained NAHB Chief Economist David Crowe. “That said, builders’ outlook for the next six months has improved due to the low inventory of for-sale homes, rock bottom mortgage rates and rising consumer confidence.”

Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

While the HMI component gauging current sales conditions declined two points to 45 and the component gauging buyer traffic declined four points to 30 in April, the component gauging sales expectations in the next six months posted a three-point gain to 53 – its highest level since February of 2007.

Looking at three-month moving averages for regional HMI scores, the Northeast was unchanged at 38 in April while the Midwest registered a two-point decline to 45, the South registered a four-point decline to 42 and the West posted a three-point decline to 55.

NAHB: Housing Starts Rise on Strength in Multifamily in March

Soaring production of multifamily apartments pushed nationwide housing starts beyond the million-unit mark for the first time since 2008 in March, according to newly released figures from HUD and the U.S. Census Bureau. The data show that total starts activity rose 7.0 percent for the month due entirely to a 31.1 percent increase on the multifamily side, while single-family production slipped 4.8 percent from a number that was revised strongly upward for the previous month.

“Today’s report is a reflection of the solid demand that many areas are seeing for rental apartments as young people take that first step into the housing market, which is a very positive development,” noted Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. “The numbers are also in keeping with our latest surveys that show single-family builders are experiencing some difficulties in keeping up with rising demand for new homes due to increasing construction costs and other factors.”

Calling the latest data a “mixed bag” due to the opposite direction of single- and multifamily starts and a somewhat weaker amount of permit issuance, NAHB Chief Economist David Crowe said that nevertheless, the numbers indicate “a continuation of the slow, methodical march forward” that characterizes the housing recovery. He also noted that “The three-month moving average for single-family starts remained unchanged at 628,000 units in March – which is right on pace with NAHB’s forecast for a 25 percent gain in new-home production in 2013.”

While single-family starts declined 4.8 percent to a seasonally adjusted annual rate of 619,000 units in March, this was entirely due to a substantial upward revision to the previous month’s data, without which virtually no change would have been recorded. At the same time, multifamily housing starts surged 31.1 percent to a seasonally adjusted annual rate of 417,000 units – their fastest pace since January 2006.

Three out of four regions posted gains in combined single- and multifamily housing production in March, with the Midwest registering a 9.6 percent increase, the South posting a 10.9 percent gain and the West noting a 2.7 percent rise. The Northeast was the lone exception to the rule, with a 5.8 percent decline.

Following a large gain in the previous month, total permit issuance fell 3.9 percent to a 902,000-unit rate in March. That decline reflected a 0.5 percent reduction to 595,000 units on the single-family side and a 10 percent reduction to 307,000 units on the multifamily side.

In contrast to the regional starts report, the Northeast was the only part of the country to post a gain in permitting activity in March, with a 24.7 percent increase to 101,000 units. Meanwhile, the Midwest, South and West posted declines of 2.1 percent, 6.2 percent and 10.4 percent, respectively.

FHFA Extends HARP to 2015

The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013.

“More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk,” said FHFA Acting Director Edward J. DeMarco. “We are extending the program so more underwater borrowers can benefit from lower interest rates.”

In addition, FHFA will soon launch a nationwide campaign to inform homeowners about HARP. This campaign will educate consumers about HARP and its eligibility requirements and motivate them to explore their options and utilize HARP before the program ends. HARP is uniquely designed to allow borrowers who owe more than their home is worth the opportunity to refinance their mortgage. Extending the program will continue to provide borrowers opportunities to refinance, give clear guidance to lenders and reduce risk for Fannie Mae, Freddie Mac and taxpayers.

To be eligible for a HARP refinance homeowners must meet the following criteria:
  • The loan must be owned or guaranteed by Fannie Mae or Freddie Mac.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The current loan-to-value (LTV) ratio must be greater than 80 percent.
  • The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.  

Borrowers should contact their existing lender or any other mortgage lender offering HARP  refinances. Check here to see if your loan is owned by Fannie Mae or Freddie Mac.  Fannie Mae and Freddie Mac have helped approximately 2.2 million borrowers refinance their homes since HARP was introduced by FHFA and the U.S. Department of the Treasury in April 2009.

Link to FHFA Refinance Report

Frequently Asked Questions
Home Affordable Refinance Program (HARP) Extended to 2015

Overview of the Home Affordable Refinance Program (HARP)
The Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury introduced the Home Affordable Refinance Program (HARP) in early 2009 as part of the Making Home Affordable program. HARP provides borrowers, who may not otherwise qualify for a refinance because of declining home values or reduced access to mortgage insurance, the ability to refinance their mortgage into a lower interest rate and/or more stable mortgage product.

Why is FHFA extending the deadline?
FHFA determined that extending the program now will provide borrowers additional opportunities to refinance, give clear guidance to lenders, and reduce losses for Fannie Mae, Freddie Mac and taxpayers.

How many homeowners have been helped by HARP since its inception?
As of January 2013, more than 2.2 million borrowers refinanced through HARP since its
inception in April 2009.

How many additional homeowners does FHFA estimate will be able to participate in HARP?
HARP has been successful thus far, with nearly 2.2 million borrowers participating in the program, and FHFA will soon be implementing a nationwide public relations campaign to educate consumers about HARP. The goal of this campaign is to reach as many eligible borrowers as possible and inform them of the value of refinancing under HARP and to motivate them to explore their options and utilize HARP before the program expires. So while we can’t provide hard estimates, we are hopeful that a substantial number of eligible borrowers will participate in the program going forward.

Are there any other changes to HARP?
Aside from extending the deadline, FHFA is not announcing any substantive changes to HARP or its eligibility criteria today.

Are borrowers whose loans are not owned or guaranteed by Freddie Mac or Fannie Mae eligible?

Neither FHFA nor Fannie Mae or Freddie Mac has the legal authority to extend HARP to borrowers whose mortgages are not owned or guaranteed by Fannie Mae or Freddie Mac.

Is there a maximum loan-to-value (LTV) ratio for HARP?
There is no maximum LTV limit for borrower eligibility. If the borrower refinances under HARP and their new loan is a fixed rate mortgage, there is no maximum LTV. If the borrower refinances and their new loan is an adjustable rate mortgage, their LTV may not be above 105 percent.

Is HARP the only refinance program available to borrowers?
HARP is only one of several refinancing options available to homeowners and is unique in that it is the only refinance program that enables borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits.

How can I tell whether companies promising to help borrowers get HARP loans are legitimate?
Borrowers do not need to use third-party companies that advertise themselves as “mortgage experts” or “foreclosure specialists” to apply for a HARP loan. Before calling such companies borrowers should talk first with their mortgage lender.

Are mortgages on condominiums and investment properties eligible for refinance under HARP?

What do borrowers need to do to take advantage of HARP?
The first step for the borrower is to learn if his or her mortgage is owned or guaranteed by Freddie Mac or Fannie Mae. The next step is to contact the borrower’s existing lender or participating lenders offering HARP refinances. Check here to see if your loan is owned by Fannie Mae or Freddie Mac.

Wednesday, April 17, 2013

2013 HBA of Greenville Golf Classic -May 6th

The HBA of Greenville will host its annual Golf Classic on Monday, May 6th at Furman Golf Course.  The event is sponsored by Stock Building Supply with Piedmont Natural Gas as presenting sponsor. The Golf Classic is Captain's Choice Format and will have a Shotgun Start at 11:30 am with lunch provided by Builders First Source. There will also be a chance to win a NEW Toyota provided by Toyota of Greenville at the Hole in One.
The Golf Classic will conclude with the Awards Dinner sponsored by Charter Busines.
There are still team and sponsorship opportunities available, please call the HBA office if you would like to participate.
Volunteers NEEDED: We also have a need for volunteers if you would like to help please contact the HBA office at 864-254-0133 or email Crystal Yanes at