Sustainable Land Development Today - June 2008 - (Page 42)

Industry News Finance I The Mortgage Bankers Association (MBA) submitted a comment letter to express its concerns regarding the cooperative agreements (Agreements) signed by Fannie Mae and Freddie Mac (the GSEs), the Office of Federal Housing Enterprise Oversight (OFHEO) and New York State Attorney General Andrew Cuomo (NY AG) on March 3, 2008. MBA strongly suggests the Agreements and related Home Valuation Code of Conduct (Code) be withdrawn. If they are not withdrawn, then MBA believes they must be modified to reflect MBA’s concerns for safety and soundness, as well as operational and procedural complications. MBA takes no exception to valid efforts by OFHEO to restore confidence in the mortgage market through its regulatory activities respecting the GSEs. In fact, MBA supports the objectives of ensuring sound underwriting practices, reducing mortgage fraud and making home valuations more reliable. MBA believes appraisals that substantially or materially overstate and/or understate the market value of properties can be harmful to lenders and unsuspecting consumers. Nonetheless, MBA believes the Agreements and Code pose serious procedural and substantive concerns that present safety and soundness risks to the GSEs and financial institutions generally. I Michael Padilla, Assistant Vice President of NorthMarq Capital, Inc.’s Minneapolis Regional office, arranged first mortgage financing of $6.6 million for Fernbrook Townhomes located in Plymouth, Minnesota. Financing for the 72-unit multifamily property was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower, At Home Apartments, by NorthMarq through its Seller/Servicer relationship with Freddie Mac. I GMH Military Housing, the former military housing division of GMH Communities Trust announced that it has been successfully acquired by Balfour Beatty plc, a UK-based international engineering, construction, investment and services group, for an aggregate purchase price of $350.5 million. The military housing business will now be managed under the name Balfour Beatty Communities, and will continue its focus as a leading provider of housing for members of the U.S. military and their families throughout the United States. I Navman Wireless, a leading global provider of vehicle tracking and fleet management solutions, announced that it has attained Gold Certified Partner status in the Microsoft Partner Program. As a Gold Certified Partner, Navman Wireless has demonstrated expertise in working with Microsoft technologies and proven ability to meet customers’ needs. I International planning, landscape architecture and graphic design firm, EDSA, recently won of eight ADDY awards for professional excellence and businesses involved in the advertising industry whose accomplishments and dedication take the industry to new heights. The Fort Lauderdale Chapter presented EDSA’s Graphics Studio with four gold and four silver awards. I EMCOR Group, Inc. announced that its subsidiary Dynalectric Company of Oregon has begun work on a solar power array (multiple photovoltaic solar panels) for Portland Habilitation Center, a non-profit organization that trains and employs individuals with disabilities throughout Oregon and Washington state. When completed, it will be one of the largest solar electric systems in Oregon. The installation consists of 4,830 solar panels, an 870 KW DC solar array, and a wiring system designed to maximize the efficiency of its photovoltaic capabilities. Organizations I Capstone Advisors, a San Diegobased real estate investment, development and management firm, announced that it is expanding its real estate services to include the purchase of sub-performing and non-performing real estate secured loans. The company’s loan purchase emphasis is on non-performing residential construction and acquisition and development loans. I The Uptown apartments, built by a subsidiary of Forest City Residential Group, Inc., through a joint venture with MacFarlane Partners, is a transitoriented, sustainable development located in the heart of Oakland’s historic arts and entertainment district. The project has been certified by the U.S. Green Building Council and is Oakland, California’s first LEED Silver certified multifamily project. The Uptown consists of four city blocks in the Uptown district of downtown Oakland. The project represents a true public/private partnership between the two firms and the City of Oakland Redevelopment Agency. I Bentley’s BE Careers Network and The CAD Academy have teamed to provide students easy, affordable access to Bentley PowerCivil, comprehensive 2D/3D drafting and design software for land development and site modeling professionals. The CAD Academy is a collaboration of professionals, industry leaders, and educators dedicated to creating comprehensive pre-engineering and pre-architecture programs for the education community. The organization bundles CAD software with class curricula to help K-12 and community college students explore technology-related career paths through real-world projects. Industry I iVoice Technology, Inc. (OTC Bulletin Board: IVOT) announced today that it has formed BGreen Innovations, Inc., a wholly-owned subsidiary, to commercialize its green technology platforms. The new subsidiary will contain the Company’s green technology and will pursue associated developmental activities. The first technology will be used to recycle tires. Recently, iVoice announced that it had filed, a new Patent Application for a process it describes as Recycled Tire Pod with Appliance Recess Guide. 42 June 2008 Sustainable Land Development Today

Table of Contents Feed for the Digital Edition of Sustainable Land Development Today - June 2008

Sustainable Land Development Today - June 2008 Contents Our Voice Editorial Board SLDT Resources Where Rubber Meets the Road Integrated Planning: The Key To Developing Sustainable Planned Communities Win-Win For College and Community Industry Spotlight: Transoft Unique Organization, Unique Opportunity New Preferred Provider Comments from the Austin Conference Welcome New Members New Knowledge Project Articles Books Going Green Business Management Risk Management Surveying and Mapping Industry News Products/Services Showcase Advertiser Index Classifieds The Last Word

Sustainable Land Development Today - June 2008

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