Archive

Posts Tagged ‘investor group’

Regulator May Act Against Eminent Domain Plan

August 14th, 2012 Comments off

fhfa-logo-headerReuters tells MHProNews that the Federal Housing Finance Agency (FHFA) raised concerns about a private investor group’s controversial aim to seize and restructure poor-performing mortgages. The federal housing regulator of the GSEs said it is concerned about the program’s constitutionality. “FHFA has significant concerns with programs that could undermine and have a chilling effect on the extension of credit to borrowers seeking to become homeowners and on investors that support the housing market,” the agency said in a statement. Edward DeMarco, the acting director of the FHFA, has objected to principal reductions on mortgages. DeMarco told reporters “the anticipated benefits do not outweigh the costs and risks.” Concerns about costs to taxpayers was also expressed. Mortgage Resolution Partners, a San Francisco-based group backed by some prominent West Coast financiers, is promoting the concept. Eminent domain traditionally has been used by local governments to condemn buildings and properties for public works projects. A related column in Industry Voices can be found here. ##

(Graphic Credit: FHFA Logo)

Beazer Bursts onto Rental Scene

May 4th, 2012 Comments off

MarketWatch says Beazer Homes USA, Inc., one of the ten largest single-family home builders in the nation, announced its entry into the home rental market on a large scale in select markets. Beazer has contributed almost 200 single-family homes in Phoenix and Las Vegas to a newly-formed real estate investment trust (REIT) that’s set to lease previously-owned single-family homes. Headquartered in Phoenix, Beazer Pre-Owned Rental Homes, Inc. (BPRH) includes an investor group headed by Kohlberg Kravis Roberts & Co. The company’s contribution of $20 million added to outside investors $65 million gives an $85 million kick start to the venture. MHProNews.com has learned BPRH is one of the first REITs concentrating solely on the single-family rental market.

(Photo credit: Wikipedia Commons)