HUD AND DOJ AWARD $8.7 MILLION TO PREVENT AND END HOMELESSNESS

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For many individuals convicted of minor crimes, finding jobs and decent housing is so challenging that many are at extreme risk of homelessness or reentering the criminal justice system. Recently, the U.S. Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) awarded $8.7 million to address homelessness and reduce recidivism among this justice-involved population through the Pay for Success model.

HUD's Pay for Success Permanent Supportive Housing Demonstration tests cost-effective ways to help persons cycling between the criminal justice and homeless service systems.

Funded by DOJ and implemented through a HUD/DOJ partnership, this demonstration advances a model that offers a new source of financing to expand permanent supportive housing for the reentry population. This is part of a broader Administration effort to reduce barriers facing justice-involved individuals who are trying to put their lives back on track, including barriers to housing.

"Too often, as people leave the criminal justice system, they don't have the support network to help them get a second chance and they fall into homelessness," says HUD Secretary Julian Castro.

"These grantees have developed successful models that give returning citizens the opportunity to find a job and place to call home while reducing the costs associated with recidivism and homelessness."

"Every person re-entering society from the justice system deserves a fair shot at a life of renewed purpose and meaning," says Attorney General Loretta Lynch. "The Justice Department's partnership with HUD will expand services to help individuals gain access to housing and jobs, and to give those who have served their time a chance to fully rejoin society. Going forward, we intend to continue to promote and develop programs that help our returning citizens stay safe, supported, and secure."

Secretary Castro made the announcement at an interagency event led by DOJ at the Center for American Progress.

Research consistently demonstrates a correlation between homelessness and incarceration. The National Alliance to End Homelessness (NAEH) estimates that one in five people living prison becomes homeless upon reentry into the community, with an increase of 30-50 percent in major urban areas. Tracking the cycle of homelessness and incarceration in the reverse, the Council of States Governments and NAEH report that over 10 percent of people recidivating from jail and prison are homeless in the months before their incarceration. This rate jumps to 20 percent among individuals with a mental illness.

Pay for Success (PFS) strategies are public-private arrangements that help government test or expand innovative programs while paying only for those activities that achieve agreed-upon target outcomes. These grants will support PFS projects that implement a Housing First model for the reentry population who experience homelessness and are frequent users of homelessness, health care and other crisis services.

Established by President Obama, the Federal Interagency Reentry Council includes 20 federal agencies,that work to:

·         make communities safer by reducing recidivism and victimization;

·         assist those who return from prison and jail in becoming productive citizens; and

·         save taxpayer dollars by lowering the direct and collateral costs of incarceration.

The Reentry Council, recently codified by Presidential Memorandum, is removing federal barriers to successful reentry, so that motivated individuals - who have served their time and paid their dues - are able to compete for a job, attain stable housing, support their children and their families, and contribute to their communities. Reentry Council agencies are taking concrete steps to reduce recidivism and high correctional costs while improving public health, child welfare, employment, education, housing and other key reintegration outcomes.

In 2010, President Obama and 19 federal agencies and offices that form the U.S. Interagency Council on Homelessness (USICH) launched the nation's first comprehensive strategy to prevent and end homelessness. Opening Doors: FederalStrategic Plan to Prevent and End Homelessness serves as a roadmap for how the federal government will work with state and local communities to confront the root causes of homelessness, including individuals who are in and out of a variety of crisis services such as jails and prisons. Permanent supportive housing lowers public costs by stopping the revolving door between jail and prison and crisis services like those provided in emergency rooms and homeless assistance programs.

For more information, visit www.hud.gov.

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GENERATE MORE LEADS WITH THESE FOUR VIDEO IDEAS

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To make sure you stay top-of-mind, it's important for real estate agents to stay on top of the newest technologies and popular methods for getting and staying in contact with clients and prospects. A great way to connect with clients is through video marketing.

There are a number of benefits to using video in your marketing efforts - social media sites push videos to the top of network feeds, live-video streaming is gaining popularity and modern internet users are looking for easier ways to connect online. In fact, according to a recent survey, 85 percent of buyers and sellers want to work with an agent who uses video as part of their marketing efforts. When it comes to generating more leads, video marketing is definitely a step in the right direction. Here are four ways you can use video to generate more leads and more business.

1. Spotlight Your Local Area
We've heard it before, but it's a tried-and-true method - feature things in your local area. Doing so can be as easy as using your phone to grab a quick video of your favorite restaurant or park, or the best kids' playground. You could also interview long-time residents or even clients who just closed on their dream home, asking them why they chose this location. Upload the videos to YouTube and post links on your social pages and blog. If you want to try live-video marketing to show off your area, consider social media tools like Periscope, Facebook Live or Snapchat. There are some key differences between these tools, so it's worth doing some research to see which is best for you. Follow the links to learn more about each, and see how you could use each to show off your local area.

Here is an excellent example from local Gilbert, Arizona realtor Shawn Camacho from UBG United Brokers Group

​DID YOU SEE WHAT HAPPENED in GILBERT, ARIZONA?*PLEASE SHARE*Does anyone know what NEIGHBORHOOD this was in?‪#‎GRANDTHEFTGURU‬ style!‪#‎GURUAPPROVED‬

2. Stream Live Videos to Engage with Online Viewers

Before your next open house, share a sneak-peek of your favorite room in the house or a view of the backyard. Be sure to talk about both the features and the benefits of each. For example, if you're showing off the expansive backyard porch, remind viewers that they could have a huge Independence Day BBQ with their family and friends or host their children or grandchildren's graduation party. You could also host a live Q&A (perfect for Periscope), allowing the seller or yourself to show off the great features of the house while giving your audience a chance to ask questions.

If you're looking for something new, consider hosting what Tom Ferry calls a "mega open house" and catching some of it on video. To host a mega open house, when you first obtain a new listing, rather than immediately posting it in the MLS, wait a few extra days. During that time, host a small get-together, and invite neighbors of the community to stop by and preview the house. In doing so, you'll be able to connect with other members in the community. Remember, when a home sells in a neighborhood, generally one or two other local residents will decide to list as well. If these residents see your video, you'll automatically be top of mind as the agent who specializes in that market. Think of mega open houses as a way for you to bring in more potential sellers. When you catch the buzz on your local video stream, you'll be able to reach even more people.

3. Share Teasers of New Listings
Video teasers that show off the features and amenities of a new listing are great things to post on your blog, social and listing pages. In fact, homes listed with videos receive four times the inquiries than those listed without. Give potential buyers the chance to see what this listing has to offer. Filming a walk-through of the property lets viewers see the flow of the home, rather than just disjointed pictures. However, remember that there are benefits to keeping some cards close to the chest. You have the option to give a grand tour through video and posting it on your pages, or you could show off a little and ask any interested parties to schedule a time with you to view the rest of the listing. While showing the whole property can help you weed through uninterested buyers, you may lose out on other buyers that you can help find the home of their dreams.

4. Show Them Why You're the Expert
Sharing educational content can be a great way to start getting your face in front of potential buyers. There are a wide range of topics you can cover that would be useful to different parties. Because of this, the first thing you should do is consider your audience, who you currently work with and who you would like to start working with. This can also affect your choice of video platform. If you want to target Millennial buyers, think about hosting a Q&A about the buying process through Periscope. If you work with empty-nesters, it might be more beneficial to post a video on your Facebook page with tips for downsizing. At the end of either video, offer them a free downloadable eBook or checklist to help them in their process. Drive these viewers back to your landing page and include lead forms, so you can capture their information and follow up with them.

While these are examples of evergreen content, you can also host video Q&As or film quick DIYs to post seasonally. Showing off your local beach or pool is great for the warm summer months, but might not be the best for the snowy season. You can also create a video of your favorite Thanksgiving table decorations, sharing the name of local stores where you found them, or even your favorite spring salad recipe, showcasing the produce you found at your local farmer's market. Try to balance the seasonal and evergreen content, so you'll have material to engage with followers throughout the year.

If you're looking for more ways to get in front of home buyers and sellers who are ready to transact, Homes.com Local Connect Ads instantly bring you property inquiries from active buyers and sellers when they are ready to engage with you. Local Connect positions you prominently in front of transaction-ready consumers in your target zip code, while showcasing your photo or logo, phone number and endorsements.

For more information, visit connect.homes.com.

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HUD Awards $42 Million of Counseling to Those with Housing Needs

HUD Awards $42 Million of Counseling to Those with Housing Needs

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The U.S. Department of Housing and Urban Development (HUD) recently awarded more than $42 million in housing counseling grants to hundreds of national, regional and local organizations to help families and individuals with their housing needs and to prevent future foreclosures. HUD's housing counseling grants and the additional funding they leverage will assist more than 1.4 million households find housing, make more informed housing choices, or keep their current homes.

June is National Home ownership Month, a time HUD recognizes how home ownership enhances lives and contributes to thriving communities. "Dare to Own the Dream" is the theme of this month-long recognition, reinforcing the long-held belief that owning a home remains one of the cornerstones of the American Dream. The grants awarded were announced at a White House gathering to mark National Home ownership Month.

HUD Secretary Julian Castro says, "Housing counselors provide potential homeowners with the tools they need to ensure they're ready and responsible. Their efforts give countless families a real shot at the American Dream of homeownership. The counseling organizations HUD supports are on the front lines in providing the full spectrum of services households need-from locating affordable rental housing, offering advice on how to become a homeowner, and preventing foreclosure."

More than $40 million will directly support the housing counseling services provided by 31 national and regional organizations, five multi-state organizations, 17 State Housing Finance Agencies (SHFAs) and 181 local housing counseling agencies. In addition, HUD is awarding $2 million to four national organizations to train housing counselors who will receive the instruction and certification necessary to effectively assist families with their housing needs.

National and regional agencies distribute much of HUD's housing counseling grant funding to community-based organizations that assist low- and moderate-income families to improve their housing conditions. In addition, these larger organizations help improve the quality of housing counseling services and enhance coordination among counseling providers.

Counseling improves housing outcomes for homebuyers, homeowners, and renters. Last month, HUD published research findings summarizing the impact of housing counseling has on families' housing options and choices. In addition, recent research from the Federal Reserve Bank of Philadelphia and the Urban Institute continues to find substantial benefits to housing counseling for families who purchase their first homes and those struggling to prevent foreclosure.

Grant recipients address the full range of families' housing counseling needs. This includes helping homebuyers evaluate their readiness for a home purchase, understand their financing and down payment options, and navigate what can be an extremely confusing and difficult home-buying process. The organization also help households find affordable rental housing and offer financial literacy training to individuals and families struggling to repair credit problems that restrict their housing options.

In addition to providing counseling to homeowners and renters, these organizations assist homeless persons in finding the transitional housing they need to move toward a permanent place to live. Finally, grantees also assist senior citizens seeking reverse mortgages. These agencies provide counseling for the rapidly growing number of elderly homeowners who seek to convert equity in their homes into income that can be used to pay for home improvements, medical costs, and other living expenses.

Housing counseling agencies support fair housing by assisting borrowers in reviewing their loan documentation, to avoid potential mortgage scams, unreasonably high interest rates, inflated appraisals, unaffordable repayment terms, and other conditions that can result in a loss of equity, increased debt, default, and even foreclosure. Likewise, foreclosure prevention counseling helps homeowners facing delinquency or default employ strategies, including expense reduction, negotiation with lenders and loan servicers, and loss mitigation, to avoid foreclosure.

For more information, visit www.hud.gov.

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WHY IS IT SO HARD TO FIND CASH BUYERS FOR REAL ESTATE?

When first getting into real estate, finding cash buyers for real estate deals can be a challenge or more like a never ending job which tends to have you thinking twice about whether or not real estate is the direction for you; BEEN THERE, DONE THAT.

Locating cash buyers is one of the most important things you can do for your real estate business.  The reason is, real estate cash buyers are your customers. These are the people who are going to pay for real estate properties from you. How cool would that be?

Finding cash buyers for your real estate to help you make your first five figure paycheck will motivate you and have you on cloud nine.  You’re going to look at that check, you’re going to hold onto it, you may even smell it…but most importantly you are going to feel confident in your choice to move forward in real estate.

First, finding cash buyers in the past was a little more difficult than it is now, however you are in the right spot at the right time to find the cash buyers you need for your real estate. You’ll find a form below to help get you started, and best of all we’ll be upfront as to how much it costs so you know there are no hidden fees…AT ALL!  Each list you request is only $17.

YES…NO JOKE, $17 and each list can have up to 500 leads of real estate cash buyers…but we will come back to that.

There have been multiple ways to locate cash buyers for real estate; Google, Bandit signs, software, classified ads, Investor friendly agents, Auctions and REI groups are just a few.  Well, this will help eliminate all of that.

The best way to find cash buyers is to acquire a list of real estate cash buyers in your state, city, county or even zip code. If you want to locate cash buyers for real estate outside your area it’s just as simple. When you acquire your, list you will see everyone on your list has purchased properties either as an individual or as a legal real estate business entity, so you know these are the type of people you want to start a relationship with.

Now after you find these real estate cash buyers you want to send them a letter or a postcard or in some cases contact them via phone…however, contacting them via phone can, in some cases, work against you because there are so many different companies, collectors and solicitors trying to reach these people and sometimes a phone call can be the worse way to make contact.

If you send a letter or postcard you can write something like this;

“Hello, my name is (your name goes here), I am a (your role here: real estate investor, wholesaler, real estate professional) in (give your area) and I have access to properties 20% to 40% below market value. If you are interested in doing business and getting a hold of some of these properties, then give me a call at (your phone number here).”

It really is that simple.  Your phone should end up ringing off the hook with people reaching out to you instead of you reaching out to them and that is exactly what you are looking for. So here is how you get started and be prepared to purchase your list today for only $17.

Complete the form by Clicking Here.  Let us know which State, City, County even Zip code you would like your list of cash buyers pulled from.​ Once you complete the form you will be redirected to a cash buyers lists page where you will get to choose which state you prefer and you will see the number of leads for a particular area.

We look forward to helping you in your real estate ventures and hope this gets you started in the proper direction.  Now fill out the form and go get your list!

http://bit.ly/FindCashBuyersforRealEstate

EXISTING-HOME SALES REACH HIGHEST PACE IN OVER NINE YEARS

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Existing-home sales sprang ahead in May to their highest pace in almost a decade, while the uptick in demand this spring amidst lagging supply levels pushed the median sales price to an all-time high, according to the National Association of REALTORS(R). All major regions except for the Midwest saw strong sales increases last month.

Total existing-home sales, which are completed transactions which include single-family homes, townhomes, condominiums and co-ops, grew 1.8 percent to a seasonally adjusted annual rate of 5.53 million in May from a downwardly revised 5.43 million in April. With last month's gain, sales are now up 4.5 percent from May 2015 (5.29 million) and are at their highest annual pace since February 2007 (5.79 million).

"The May gain over April signals that the real estate market has maintained strong momentum all spring," says Realtor.com(R) Chief Economist Jonathan Smoke. "We are now in this year's peak home-buying months, and this pace of sales should produce the gains we have been forecasting that will make 2016 the best year of home sales in a decade. The biggest challenge to prospective buyers right now is tight supply, which we have seen for 45 consecutive months. In these conditions, home values have strong support, but potential buyers will continue to face challenges finding a home for sale that meets their needs. That is why we're seeing the age of inventory drop dramatically while prices have gone up 5 percent over the last year and are now at record nominal levels."

Lawrence Yun, NAR chief economist, says existing sales continue to hum along, rising in May for the third consecutive month. "This spring's sustained period of ultra-low mortgage rates has certainly been a worthy incentive to buy a home, but the primary driver in the increase in sales is more homeowners realizing the equity they've accumulated in recent years and finally deciding to trade-up or downsize," Yun says. "With first-time buyers still struggling to enter the market, repeat buyers using the proceeds from the sale of their previous home as their down payment are making up the bulk of home purchases right now."

Adds Yun, "Barring further deceleration in job growth that could ultimately temper demand from these repeat buyers, sales have the potential to mostly maintain their current pace through the summer."

Surpassing the peak median sales price set last June ($236,300), the median existing-home price for all housing types in May was $239,700, up 4.7 percent from May 2015 ($228,900). May's price increase marks the 51st consecutive month of year-over-year gains.

Total housing inventory at the end of May rose 1.4 percent to 2.15 million existing homes available for sale, but is still 5.7 percent lower than a year ago (2.28 million). Unsold inventory is at a 4.7-month supply at the current sales pace, which is unchanged from April.

"Existing inventory remains subdued throughout much of the country and continues to lag even last year's deficient amount," adds Yun. "While new home construction has thankfully crept higher so far this year, there's still a glaring need for even more, to help alleviate the supply pressures that are severely limiting choices and pushing prices out of reach for plenty of prospective first-time buyers."

The share of first-time buyers was 30 percent in May, down from 32 percent both in April and a year ago. First-time buyers in all of 2015 also represented an average of 30 percent.

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage inched backward from 3.61 percent in April to 3.60 percent in May, which is the lowest since May 2013 (3.54 percent). The average commitment rate for all of 2015 was 3.85 percent.

Properties typically stayed on the market for 32 days in May (39 days in April), which is below a year ago (40 days) and the shortest time since NAR began tracking in May 2011. Short sales were on the market the longest at a median of 103 days in May, while foreclosures sold in 51 days and non-distressed homes took 30 days. Forty-nine percent of homes sold in May were on the market for less than a month-the highest percentage since NAR began tracking.

May inventory data from Realtor.com(R) shows that the top five metropolitan statistical areas where listings stayed on the market the shortest amount of time were San Francisco-Oakland-Hayward, Calif., and Seattle-Tacoma-Bellevue, Wash., both at a median of 25 days; San Jose-Sunnyvale-Santa Clara, Calif., 26 days; and Denver-Aurora-Lakewood, Colo., and Vallejo-Fairfield, Calif., both at 30 days.

Earlier this month, NAR released a new survey looking at the home-buying opportunities of student debt borrowers who are current in their repayment. The findings affirmed the notion that repaying student debt is a contributing factor to the low home ownership rate among young adults and the under-performing share of first-time buyers. Nearly three-quarters of non-homeowners in the survey believed that their student debt is delaying them from buying a home, with most of them citing not being able to save for a down payment as the primary reason.

"At a time of historically low interest rates, responsible student loan borrowers should have the opportunity to refinance their loans from their current rates, which can oftentimes run over double-digit percentage points," says NAR President Tom Salomone. "In addition to policy proposals that streamline income-based repayment programs and allow student loan borrowers the ability to refinance into lower rates, NAR supports those that promote student loan simplification, clarity and education. Furthermore, it's important that mortgage underwriting guidelines related to student loan debt are standardized and do not impair home ownership opportunities."

All-cash sales were 22 percent of transactions in May, down from both 24 percent in April and a year ago. Individual investors, who account for many cash sales, purchased 13 percent of homes in May, unchanged from April and down from 14 percent a year ago. Sixty-three percent of investors paid cash in May.

Distressed sales-foreclosures and short sales-declined to 6 percent of sales in May, down from 7 percent in April and 10 percent a year ago. Five percent of May sales were foreclosures and 1 percent were short sales. Foreclosures sold for an average discount of 12 percent below market value in May (17 percent in April), while short sales were discounted 11 percent (10 percent in April).

Single-family and Condo/Co-op Sales

Single-family home sales increased 1.9 percent to a seasonally adjusted annual rate of 4.90 million in May from 4.81 million in April, and are now 4.7 percent higher than the 4.68 million pace a year ago. The median existing single-family home price was $241,000 in May, up 4.6 percent from May 2015.

Existing condominium and co-op sales rose 1.6 percent to a seasonally adjusted annual rate of 630,000 units in May from 620,000 in April, and are now 3.3 percent above May 2015 (610,000 units). The median existing condo price was $229,600 in May, which is 6.0 percent above a year ago.

Regional Breakdown

May existing-home sales in the Northeast increased 4.1 percent to an annual rate of 770,000, and are now 11.6 percent above a year ago. The median price in the Northeast was $268,600, which is 0.1 percent below May 2015.

In the Midwest, existing-home sales dropped 6.5 percent to an annual rate of 1.30 million in May, but are still 3.2 percent above May 2015. The median price in the Midwest was $190,000, up 4.8 percent from a year ago.

Existing-home sales in the South expanded 4.6 percent to an annual rate of 2.28 million in May, and are now 6.5 percent above May 2015. The median price in the South was $211,500, up 5.9 percent from a year ago.

Existing-home sales in the West jumped 5.4 percent to an annual rate of 1.18 million in May, but are still 1.7 percent lower than a year ago. The median price in the West was $346,900, which is 7.7 percent above May 2015.

For more information, visit www.realtor.org.

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3 WAYS TO BUY REAL ESTATE WITH A SMALL IRA

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​With the popularity of Real Estate IRAs gaining ground, it's important that you, as a trusted real estate advisor, stay up to date on this topic. Clients in your database that have retirement wealth may look to you to provide more information about investing in real estate. I am always sharing important information on this topic with agents, including this particular key insight: your clients do not need to have the full cash amount in order to invest in real estate with retirement dollars. If a client has a small IRA, there are a few paths they can follow.

Here are the three most popular ways for a client with a small IRA to invest in real estate:

Partner the IRA
A self-directed IRA or Real Estate IRA can partner with other IRAs, investors' money, and even personal funds. Sometimes partnering with one account, one investor, or only yourself, will not provide enough funding for the investment you are interested in. In this case, you can partner with a group. The IRA would own a fraction of the investment and share the profits and expenses with other investors in that same proportion.

Leverage the IRA
Yes, your IRA can take a loan. The regulations require a non-recourse loan if a loan is to complete a real estate transaction in a self-directed IRA. A non-recourse loan is a loan in which you, as the IRA holder, are not personally liable for repaying the loan. The IRA holder cannot personally guarantee the loan the IRA is acquiring.  Once you locate a lender/bank, the lender will lend to your IRA, not to you as an individual. The lender will have no recourse against you or other assets in your IRA in the event of a default. The lender will only be able to recover the property and your equity in the property that has the loan.

Lend your IRA
You can passively invest in real estate by providing capital from your IRA for a real estate transaction. In many cases we see investors borrow from a third party's IRA to close on a transaction. The IRA owner determines the rate and terms of the loan.  The loan from the IRA is secured by the property.

Knowing about small IRA investment strategies can help you enhance your value to your clients as a trusted source for important real estate information. Help leverage the wealth that lives in your database today. More information and tools to grow your business can be found here.

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NEW DRONE REGULATIONS CREATE ENDLESS OPPORTUNITIES

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Recently, the Department of Transportation's Federal Aviation Administration finalized the first operational rules for routine commercial use of small unmanned aircraft systems (UAS or "drones"), opening pathways towards fully integrating UAS into the nation's airspace. These new regulations work to harness new innovations safely, to spur job growth, advance critical scientific research and save lives.

"We are part of a new era in aviation, and the potential for unmanned aircraft will make it safer and easier to do certain jobs, gather information, and deploy disaster relief," says U.S. Transportation Secretary Anthony Foxx. "We look forward to working with the aviation community to support innovation, while maintaining our standards as the safest and most complex airspace in the world."

According to industry estimates, the rule could generate more than $82 billion for the U.S. economy and create more than 100,000 new jobs over the next 10 years.

The new rule, which takes effect in late August, offers safety regulations for unmanned aircraft drones weighing less than 55 pounds that are conducting non-hobbyist operations.

The rule's provisions are designed to minimize risks to other aircraft and people and property on the ground. The regulations require pilots to keep an unmanned aircraft within visual line of sight. Operations are allowed during daylight and during twilight if the drone has anti-collision lights. The new regulations also address height and speed restrictions and other operational limits, such as prohibiting flights over unprotected people on the ground who aren't directly participating in the UAS operation.

The FAA is offering a process to waive some restrictions if an operator proves the proposed flight will be conducted safely under a waiver. The FAA will make an online portal available to apply for these waivers in the months ahead.

"With this new rule, we are taking a careful and deliberate approach that balances the need to deploy this new technology with the FAA's mission to protect public safety," says FAA Administrator Michael Huerta. "But this is just our first step. We're already working on additional rules that will expand the range of operations."

Under the final rule, the person actually flying a drone must be at least 16 years old and have a remote pilot certificate with a small UAS rating, or be directly supervised by someone with such a certificate. To qualify for a remote pilot certificate, an individual must either pass an initial aeronautical knowledge test at an FAA-approved knowledge testing center or have an existing non-student Part 61 pilot certificate. If qualifying under the latter provision, a pilot must have completed a flight review in the previous 24 months and must take a UAS online training course provided by the FAA. The TSA will conduct a security background check of all remote pilot applications prior to issuance of a certificate.

Operators are responsible for ensuring a drone is safe before flying, but the FAA is not requiring small UAS to comply with current agency airworthiness standards or aircraft certification. Instead, the remote pilot will simply have to perform a preflight visual and operational check of the small UAS to ensure that safety-pertinent systems are functioning property.  This includes checking the communications link between the control station and the UAS.

Although the new rule does not specifically deal with privacy issues in the use of drones, and the FAA does not regulate how UAS gather data on people or property, the FAA is acting to address privacy considerations in this area. The FAA strongly encourages all UAS pilots to check local and state laws before gathering information through remote sensing technology or photography.

As part of a privacy education campaign, the agency will provide all drone users with recommended privacy guidelines as part of the UAS registration process and through the FAA's B4UFly mobile app. The FAA also will educate all commercial drone pilots on privacy during their pilot certification process; and will issue new guidance to local and state governments on drone privacy issues. The FAA's effort builds on the privacy "best practices" (PDF) the National Telecommunications and Information Administration published last month as the result of a year-long outreach initiative with privacy advocates and industry.

Part 107 will not apply to model aircraft.  Model aircraft operators must continue to satisfy all the criteria specified in Section 336 of Public Law 112-95 (which will now be codified in Part 101), including the stipulation they be operated only for hobby or recreational purposes.

For more information, visit www.congress.gov.

DEBT RISES FOR COMMERCIAL AND MULTIFAMILY MORTGAGES

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The level of commercial/multifamily mortgage debt outstanding increased by $35.3 billion in the first quarter of 2016, as three of the four major investor groups increased their holdings. That is a 1.2 percent increase over the fourth quarter of 2015.  

Total commercial/multifamily debt outstanding rose to $2.86 trillion at the end of the first quarter.  Multifamily mortgage debt outstanding rose to $1.07 trillion, an increase of $18.2 billion, or 1.7 percent, from the fourth quarter of 2015.

"The amount of commercial and multifamily mortgage debt outstanding continues to grow at a strong clip," says Jamie Woodwell, MBAs Vice President of Commercial Real Estate Research.  "Bank holdings and multifamily loans backed by Fannie Mae and Freddie Mac drove growth during the quarter. However, the balance of loans held in commercial mortgage-backed securities continues to decline and has now fallen by one third since it peaked in 2007, as more CMBS loans are paid-off and paid down than are originated."

The four major investor groups are: bank and thrift; commercial mortgage backed securities (CMBS), collateralized debt obligation (CDO) and other asset backed securities (ABS) issues; federal agency and government sponsored enterprise (GSE) portfolios and mortgage backed securities (MBS);  and life insurance companies.

The analysis summarizes the holdings of loans or, if the loans are securitized, the form of the security. For example, many life insurance companies invest both in whole loans for which they hold the mortgage note (and which appear in this data under Life Insurance Companies) and in CMBS, CDOs and other ABS for which the security issuers and trustees hold the note (and which appear here under CMBS, CDO and other ABS issues).

Commercial banks continue to hold the largest share of commercial/multifamily mortgages, $1.1 trillion, or 39 percent of the total.

CMBS, CDO and other ABS issues are the second largest holders of commercial/multifamily mortgages, holding $504 billion, or 18 percent of the total.  Agency and GSE portfolios and MBS hold $472 billion, or 17 percent of the total, and life insurance companies hold $398 billion, or 14 percent of the total.  Many life insurance companies, banks and the GSEs purchase and hold CMBS, CDO and other ABS issues.  These loans appear in the "CMBS, CDO and other ABS" category.

Multifamily Mortgage Debt Outstanding

Looking solely at multifamily mortgages, agency and GSE portfolios and MBS hold the largest share, with $472 billion, or 44 percent of the total multifamily debt outstanding.  They are followed by banks and thrifts with $352 billion, or 33 percent of the total.  State and local government hold $94 billion, or 9 percent of the total; life insurance companies hold $62 billion, or 6 percent of the total; CMBS, CDO and other ABS issues hold $57 billion, or 5 percent of the total, and nonfarm noncorporate business holds $13 billion, or one percent of the total.

Changes in Commercial/Multifamily Mortgage Debt Outstanding 

In the first quarter of 2016, banks and thrifts saw the largest increase in dollar terms in their holdings of commercial/multifamily mortgage debt - an increase of $26.4 billion, or 2.5 percent.  Agency and GSE portfolios and MBS increased their holdings by $11.3 billion, or 2.5 percent, and life insurance companies increased their holdings by $5.0 billion, or 1.3 percent.  CMBS, CDO and other ABS issues saw the largest decrease at $11.7 billion, or down 2.3 percent.

In percentage terms, other insurance companies saw the largest increase in their holdings of commercial/multifamily mortgages, an increase of 8 percent.  CMBS, CDO and other ABS issues saw their holdings decrease 2.3 percent.

Changes in Multifamily Mortgage Debt Outstanding

The $18.2 billion increase in multifamily mortgage debt outstanding between the fourth quarter of 2015 and first quarter of 2016 represents a 1.7 percent increase.  In dollar terms, agency and GSE portfolios and MBS saw the largest increase in their holdings of multifamily mortgage debt, an increase of $11.3 billion, or 2.5 percent.  Commercial banks increased their holdings of multifamily mortgage debt by $8.0 billion, or 2.3 percent. State and local government increased by $2.7 billion, or 2.9 percent.  CMBS, CDO and other ABS issues saw the largest decline in their holdings of multifamily mortgage debt, by $5.7 billion, or down 9.2 percent.

In percentage terms, REITs recorded the largest increase in holdings of multifamily mortgages, at 6 percent.  CMBS, CDO and other ABS issues saw the biggest decrease at 9 percent.

For more information, visit www.mba.org.

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HUD AND JUSTICE DEPARTMENT AWARD $9.2 MILLION TO PROVIDE STABLE HOUSING TO VICTIMS OF DOMESTIC VIOLENCE LIVING WITH HIV/AIDS

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To help prevent victims of domestic violence living with HIV/AIDS from falling into homelessness, the U.S. Department of Housing and Urban Development (HUD) and the Department of Justice (DOJ) recently announced more than $9 million to support eight local programs across the country working to protect and house these victims.

DOJ's Office on Violence Against Women and HUD's Office of HIV/AIDS Housing collaborated to provide these grants under the Violence Against Women Act (VAWA) and HUD's Housing Opportunities for Persons With AIDS (HOPWA) Program.

HUD Secretary Julian Castro says, "Every person, especially those fighting the effects of HIV/AIDS or looking to escape an abusive situation, deserves to live in a safe and stable environment.  Through this collaborative effort with the Justice Department, we're able to help those living at the intersection of HIV/AIDS and domestic violence to secure the housing and health services they need to build a better future."

"This joint effort will help low-income individuals with HIV/AIDS who have survived domestic violence secure the vital services they need to reclaim their lives and restore their futures," says Attorney General Loretta E. Lynch. "The Justice Department is committed to safeguarding the rights and opportunities of all Americans, including the most vulnerable among us.  And in the days ahead, we will continue our work to ensure that every American - from every background - has the safety, security, and support that they deserve."

Through this demonstration program, HUD will provide funding for housing assistance and supportive services to low-income persons living with HIV/AIDS who are victims of sexual assault, domestic violence, dating violence, or stalking. Grantees are required to form partnerships between local HIV housing and service providers and domestic violence and sexual assault service providers for client outreach and engagement and for comprehensive supportive services to ensure client success in the program.  Descriptions of the funded projects can be found here.

This demonstration follows a recommendation by the Federal Interagency Working Group on the Intersection of HIV/AIDS, Violence against Women and Girls, and Gender-Related Health Disparities to enhance Federal efforts in addressing HIV and intimate partner violence (IPV) among homeless and marginally housed women and girls. While the Working Group focuses on women and girls, the housing assistance and supportive services provided through the demonstration will be open to all eligible clients regardless of sex, gender identity, sexual orientation, familial status, marital status, race, color, religion, national origin, disability, or age.

Since 1992, the HUD's HOPWA Program, managed by the Office of HIV/AIDS Housing, has provided national leadership and resources that support the development and operation of high-quality supportive housing programs. Under the HOPWA Program, HUD makes grants to cities, states, and nonprofit organizations to provide housing assistance and supportive services to low-income persons living with HIV/AIDS and their families. By providing assistance with housing and related services, the HOPWA program helps persons living with HIV/AIDS enter into housing, access and remain in medical care, and adhere to complex treatment regimens. More information on the HOPWA program is available here.

The Justice Department's Office on Violence Against Women (OVW), headed by Principal Deputy Director Bea Hanson, provides leadership in developing the nation's capacity to reduce violence against women through the implementation of VAWA and subsequent legislation.  Created in 1995, OVW administers financial and technical assistance to communities across the country that are developing programs, policies and practices aimed at ending domestic violence, dating violence, sexual assault and stalking. More information is available at www.justice.gov/ovw.

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