MAYOR BLOOMBERG, HUD SECRETARY DONOVAN, HPD COMMISSIONER WAMBUA, ROSE COMPANIES AND PHIPPS HOUSES ANNOUNCE GRAND OPENING OF VIA VERDE AFFORDABLE HOUSING DEVELOPMENT

Via Verde Is City’s Latest Achievement in Ongoing Effort to Rebuild and Revitalize Once Blighted South Bronx Neighborhood

New York, NY – June 18, 2012 – (RealEstateRama) — Mayor Michael R. Bloomberg, U.S. Department of Housing and Urban Development Secretary Shaun Donovan, Department of Housing Preservation and Development Commissioner Mathew M. Wambua, Housing Development Corporation President Marc Jahr, New York State Homes and Community Renewal Commissioner/CEO Darryl C. Towns, were joined by to cut the ribbon to mark the official opening of  the Via Verde affordable housing development located at 700 Brook Avenue and East 156th Street in the South Bronx. Via Verde, a largely City-financed project that blends 151 rental units and 71 co-op units with innovative and sustainable green design elements, was the winning proposal to New York City’s first juried design competition for affordable and sustainable housing. The development is also the latest to be completed in the Administration’s efforts to rebuild the blighted South Bronx. The Mayor was joined at the announcement by Jonathan Rose Companies President Jonathan F. P. Rose, Phipps Houses President Adam Weinstein, JPMorgan Chase Chief Administrative Officer and Mortgage Banking CEO Frank Bisignano, Congressman Jose E. Serrano, State Senator Ruben Diaz, Sr., Bronx Borough President Rubin Diaz, Jr., and Council Member Maria del Carmen Arroyo.

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Economy Shifting Back to a Lower Gear

Consumer Spending Positive, Despite Slow Income Growth

WASHINGTON, DC – Despite economic growth of 3.0 percent annualized for the fourth quarter of 2011, incoming data suggest that economic growth slowed during the first quarter of 2012. In line with previous forecasts, Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group expects growth to slow to slightly more than 2 percent in the first quarter of the year. The slowdown in economic growth is not indicative of a significant deterioration in the underlying strength of economic activity, but a fading inventory boost to GDP growth.

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Fannie Mae Supports the Multifamily Mortgage Market with Robust Issuance in the First Quarter of 2012

 

WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced that the company issued $7.1 billion of multifamily MBS1 in the first quarter of 2012, backed by new multifamily loans delivered by our lenders. Fannie Mae also resecuritized $2.6 billion of DUS MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMSTM) program in the first quarter.

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