News

NCST serves as an advocate for neighborhood stabilization and blight remediation, and as such, we release articles and also share in press stories with our buyers and sellers to help call attention to their efforts, and to bring more understanding to the continued need for revitalizing our nation’s most vulnerable communities.

  • Corporate landlords may be getting a boost from the government

    Las Vegas resident Kristy Maser has become so frustrated with her house-hunt, she said she sometimes cries herself to sleep at night. “I’ve just lost hope,” the 40 year-old banquet server said of the process. “It’s disheartening.” By Kimberly Adams | June 14, 2017 | http://bit.l/2vZsKAV She’s…

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  • Profiting off pain: Trump confidant cashed in on housing crisis

    One of President Donald Trump’s closest friends and confidants took advantage of the Great Recession to build an unprecedented real estate business that makes him tantamount to a modern-day slumlord – buying up homes, bumping up rents and allowing the properties to fall into disrepair. Southern California…

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  • Here’s a Chance to Weigh In on Federal Support for Affordable Housing

    In the U.S. government’s great wealth-building machine, Fannie Mae and Freddie Mac are the most important cog. The 30-year, fixed-rate single-family home mortgage that has made homeownership possible for so many (but not all) would not be so dominant today without these two so-called government-sponsored enterprises. A…

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  • Deutsche Bank Eyes Private Equity Help in U.S. Settlement

    Deutsche Bank AG is supposed to give relief to subprime mortgage borrowers as part of a $7.2 billion settlement with the U.S. government. It is considering an unusual approach to meeting that requirement: lending money to private equity firms and hedge funds. U.S. mortgage settlement included $4.1…

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  • Press Statement: Fannie Mae Financing Blackstone Single Family Rental Acquisitions

    (Washington, D.C.) Today, Fannie Mae announced its intention to guarantee up to $1 billion in debt for Invitation Homes, a subsidiary of the wealthy Wall Street investment firm Blackstone and the country’s largest owner of single-family rental homes. Robert Grossinger, President of the National Community Stabilization Trust…

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  • Fannie Mae’s $1 billion Blackstone deal draws fire

    A $1 billion deal between Fannie Mae and Blackstone Group is drawing fire from the housing industry and consumer advocates as the investment firm prepares to sell its housing unit in an initial public offering. The National Association of Realtors Tuesday accused Fannie Mae of subsidizing big…

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  • HUD Has Blight-Fighting Power in Its Back Pocket

    A federal program to sell off underwater mortgages has enriched for-profit real estate investors. What if nonprofits and cities focused on neighborhood stabilization bought all of them instead? Ismene Speliotis sent her staff deep into New York’s outer boroughs on an investigative mission in 2015. Their target:…

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  • There’s a Better Way for Fannie to Join the Rental Market

    Recently, initial public offering documents for Invitation Homes disclosed that it had reached an agreement with Fannie Mae for a $1 billion debt guarantee for its single-family rental portfolio. Invitation Homes is a subsidiary of one of the world’s largest private equity funds, the Blackstone Group, which…

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  • Fannie Mae’s Blackstone Deal Provokes Blowback

    It seemed just an aside in the National Association of Realtors press release regarding January existing home sales. NAR President William E. Brown, took a shot at the GSE’s saying first, “Supply and demand imbalances continue to be burdensome in many markets, and now Fannie Mae is…

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  • Fannie Mae Backs Up Blackstone

    A Fannie Mae spokesperson confirmed Wednesday the country’s largest owner of single-family rental homes recently won its backing. The GSE agreed as of Tuesday to backstop up to $1 billion in debt from Blackstone Group’s platform Invitation Homes, the first time a government sponsored entity has agreed…

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