Fannie Mae and Freddie Mac to Offer 3% Downpayment Programs

Fannie Mae and Freddie Mac have announced new low-downpayment mortgage programs geared primarily toward the first-time home buyer market.

In an official statement responding positively to the plan, NAHB Chairman Kevin Kelly said:

“NAHB commends Fannie Mae and Freddie Mac for instituting new loan guidelines that will allow creditworthy borrowers to obtain mortgages with a downpayment of 3 percent. One of the biggest obstacles to achieving homeownership is the ability to come up with a downpayment. By reducing upfront cash requirements while establishing tough but fair underwriting guidelines that include a number of safeguards, Fannie and Freddie will open the door to homeownership for more American families, particularly first-time home buyers and younger households.”

Federal Housing Finance Agency Director Mel Watt, whose agency regulates Fannie Mae and Freddie Mac, said: “These underwriting guidelines provide a responsible approach to improving access to credit while ensuring safe and sound lending practices. To mitigate risk, Fannie Mae and Freddie Mac will use their automated underwriting systems, which include compensating factors to evaluate a borrower’s creditworthiness.”

Major media outlets reporting on the developments noted that Fannie Mae and Freddie Mac’s new programs to purchase mortgages with 3 percent downpayments would enable more creditworthy borrowers who lack the funds for a large downpayment to be able to obtain a home mortgage.

HBA Membership Provides Discounted Wireless Program

AT&T, Verizon, Spring, and T-Mobile Discounts Available

Your HBA is pleased to announce the launch of our newest member benefit program with eMemberBenefits. They provide discounted wireless service offerings from Verizon, Sprint, AT&T and T-Mobile. This unique program offers a wide range of benefits to members including: discounts averaging 35 percent for members, free mobile to any mobile calling, free mobile device management through an online portal, dedicated 24/7/365 help desk support and much more.*

Home builders today are relying on mobile technology for more than just phone calls. With the introduction of new technology, productivity has increased significantly. The eMemberBenefits wireless program for members helps to deliver solutions that are both powerful and simplified so that your enterprise gets the most from current available technologies at the very best prices.

Members will receive a no cost, no obligation detailed assessment of their existing wireless telecom expenses, and be provided with a free side-by-side comparison of discounts available for their existing service, along with comparable options from other carriers, often with even greater discounts. Once a member selects an option, they will receive comprehensive management of the implementation process, and a dedicated representative to act as the focal point for customer service and ongoing member support.

To learn more, please visit www.eMemberBenefits.com/nahb or call 866-430-NAHB (6242) to speak directly with a member benefit specialist.

* All carriers require a 5 line minimum for business accounts (all phones, tablets, mobile hot spots and other cellular internet connected devices count towards this minimum

Housing Market Forecast Luncheon with HBA, GGAR and NMBA planned for 2015 Featuring Dr. David Crowe, Chief Economist for NAHB

Want to start 2015 in the know and off right? Your HBA, SMC of the Upstate, Greater Greenville Association of Realtors (GGAR), and National Mortgage Bankers Association (NMBA) are working together to bring the best and most up to date economic information to you. Make plans to attend The Housing Market Forecast Luncheon at TD Convention Center on Tuesday, February 3rd, at 11:30 a.m. featuring Dr. David Crowe, Chief Economist for NAHB.

David Crowe is Chief Economist and Senior Vice President at the National Association of Home Builders (NAHB).   Dr. Crowe is responsible for NAHB’s forecast of housing and economic trends, survey research and analysis of the home building industry and consumer preferences as well as micro economic analysis of government policies that affect housing. 

Dr. Crowe is also responsible for the development and implementation of an innovative model of the local economic impact and fiscal cost of new home construction, which has estimated the net impact of new housing in over 500 local markets.  Past research has concentrated on home ownership trends, tax issues, demographics, government mortgage insurance, local land use ordinance impacts and the impacts of housing on local economies. 

Before becoming NAHB’s Chief Economist, Dr. Crowe was NAHB’s Senior Vice President for Regulatory and Housing Policy.  Prior to NAHB, Dr. Crowe was Deputy Director of the Division of Housing and Demographic Analysis at the U.S. Department of Housing and Urban Development. 

He has served on federal advisory committees to the Census Bureau and to the U.S. Department of Housing and Urban Development. 

Dr. Crowe holds a PhD in Economics from the University of Kentucky.

During this meeting the HBA will host a table top forum for HBA members and prospective members during registration and immediately following the meeting.  HBA members are invited to participate in the table top forum and there are 10 spaces available. If you are interested in sponsoring a TableTop contact the HBA office at 864-254-0133.

 * If you would like to attend the Housing Market Forecast Luncheon please RSVP by January 26th by calling the HBA Office at 864-254-0133.

45th Annual Bird Supper Announced: April 15, 2015

Mark your calendar now to attend the 45th Annual Bird Supper:

• Tuesday, April 14, 2015
• Seawells, Columbia, SC

Tickets are $35.  Members who donate to the PAC at the $250 level or above receive a complimentary ticket to the Bird Supper as well as an exclusive invitation to the Hammer and Trowel reception immediately preceding the Bird Supper.

Carolyn Tate

The Board of Directors, members, and staff of the Home Builders Association of Greenville extend their condolences to the family of Carolyn B. Tate, 76, who died Monday, December 01, 2014.  She was the mother of Ronald G. Tate, Jr., General Counsel of the Home Builders Association of Greenville and partner with Gallivan, White and Boyd, P.A., in Greenville.


In addition to Ron, surviving are Sherry, Ron's wife, Bob Tate and his wife, Sherry, of Piedmont, and Eddie Tate and his wife, Laura, of Williamston.  Also surviving are seven grandchildren and two brothers, B. J. Bell of Columbia and Charles Bell of Mauldin.

Services were held Wednesday, December 3, 2014, at Woodlawn Memorial Park. Condolences may be sent to the family at www.thomasmcafee.com.

2014 Past Presidents Luncheon

On Wednesday, December 3rd your Home Builders Association hosted our annual Past Presidents Luncheon at Larkins' on the River, sponsored by J-Freeman & Associates. There was lots of smiling faces, stories, and advice for the incoming 2015 HBA President. The group will also welcomed current president Mike Freeman of ACA/ Freewood Contracting to their distinguished club.

Thank you for your service and dedication to our association and the industry!

Past Presidents who have served the HBA of Greenville:

( * denotes attendance at this years luncheon)

1960 and 1961 Donald Baltz
1962 Edgar Teasley                                   
1963 John Taylor, Jr.
1964 M. Graham Proffitt *
1965 Marion Uldrick                                     
1966 Eugene Rackley
1967 Lloyd W. Gilstrap          
1968 Edward H. Hembree
1969 W. N. Leslie
1970 Larry Gibson
1971 Levis Gilstrap
1972 John Cothran *
1973 Harold Newton
1974 Ray Dempsey
1975 J. W. Roberts *
1976 James Vaughn
1977 W. Glenn Hawkins
1978 David Balentine
1979 A. James Nelson
1980 A.J. Prince *
1981 Ralph Hendricks
1982 David Douglas
1983 Wm. H. McCauley
1984 Bobby Sexton
1985 Don Franklin
1986 Dee Smith
1987 Jerry Marsh
1988 James Leary *
1989 Ed Burgess
1990 Joe W. Jelks, III
1991 Don Rex
1992 Dennis Waldrop *
1993 Lynn Yeargin *
1994 Rodney Edwards
1995 Doug Ashmore *
1996 William (Billy) Dunn
1997 Tim Justice
1998 and 1999 Gale Crawford *
2000 Wayne Moore*
2001 Richard Merritt *
2002 Jim Gregorie *
2003 Keith Smith
2004 Hal Dillard *
2005 Clyde Rector
2006 Coleman Shouse
2007 Dan Rawls
2008 Todd Usher
2009 Bruce Pasquarella
2010 Thomas Dillard *
2011 Wayne Moore
2012 Robert Markel *
2013 Rick Quinn *
2014 Mike Freeman *

Past President's with sponsor Jason Freeman of J-Freeman and Associates on the left.

 

New Code Cost Requirement Benefits Builders and Buyers

In a big win for Home Builders and the home buyers we represent, the International Code Council (ICC) has taken a significant step forward in ensuring that code change proposals come with disclosure of their price tags.

In its press release announcing the opening of the 2015/2016/2017 code development cycle, ICC also announced that it will require all advocates to include the costs associated with any proposals introduced along with the paybacks, where appropriate.

It’s exactly what NAHB Chairman-elect Tom Woods asked for when he addressed the ICC board on September 29 and called on code change proponents to provide “quantitative information regarding the magnitude of the expected increase in construction costs.”

In an official statement lauding the ICC ruling on cost estimates, NAHB Chairman Kevin Kelly said:

“NAHB commends the ICC for approving this landmark ruling that will require all code change proposals to include cost estimates. By acknowledging that costs are an important factor in determining the merit of code change proposals, this will make the building codes process more cost-effective and affordable. In turn, this will help keep housing costs down, enable builders to construct more energy-efficient homes and allow more young families to enter the new home buying market.”

This issue has been an important concern for Home Builders, as noted in this recent Eye on Housing blog.

To learn more about the ICC and the code development process, NAHB has provided a code toolkit that includes suggested amendments to make the latest versions of the 2015 family of ICC codes more affordable and practical. HBA members must be logged in to nahb.org to download and view the toolkit.