Articles
New Wall Street threat to homeownership
Category: Business Written by NNPA News Service
by Stella J. Adams
(NNPA)—Private-equity firms, hedge funds and other Wall Street investors are seeking to develop a Real Estate Owned (REO)– to- Rent Securitization Market with the blessing of the FED and FHFA. A year ago, the Federal Reserve Board issued a policy statement on rental of REO owned by the banks they supervise and allowed the banks to rent REO properties without requiring them to demonstrate continuous efforts to market the properties. Last fall, FHFA initiated a “pilot” REO bulk sale program in urban markets across the nation. This munificence by the federal regulators will change the course of America’s future and signals the abandonment of homeownership as a pathway to prosperity.
Last Updated on Friday, 17 May 2013 10:38
Hits: 387
Mel Watts is ideal choice to lead FHFA
Category: Business Written by Charlene Crowell

CHARLENE CROWELL
(NNPA)—President Obama recently nominated Melvin (Mel) Watt, a long-time North Carolina Congressman, to direct the Federal Housing Finance Agency. While major news media reported on the development, few mentioned exactly what the new job would entail or the significance of an African-American potentially leading a key financial office.
Last Updated on Thursday, 16 May 2013 15:45
Hits: 497
PNC employee group makes mark in communities
Category: Business Written by Diane I. Daniels - Courier Business Writer

SHARING A MOMENT—Juanita Lomax, chair for the PNC Pittsburgh African American EBRG’s Community Outreach and Event Planning Committees and Susan L. Taylor founder and CEO of the National CARES Mentoring Movement encourage one another. (Photos by Diane I. Daniels)
Juanita Lomax helps PNC open doors to minorities through PNC Supply Chain Management.
As a Business Systems Analyst for PNC Supply Chain Management the responsibility of Lomax is to focus on the development and implementation of systems and applications for Supply Chain Management and other businesses within the company. Employed with PNC, considered among the leading financial services organizations in the country since 2006, she takes her job very seriously. She also views her roles as chair of the Pittsburgh African American EBRG’s (Employee Business Resource Group) Community Outreach and Event Planning Committees seriously. She says the organization was established as part of PNC’s corporate-wide diversity and inclusion initiative to support programs that engage employees, customers, communities and suppliers.
Last Updated on Wednesday, 15 May 2013 17:17
Hits: 814
Don’t reverse the curse
Category: Business Written by Damon Carr

DAMON CARR
Ok, I’ll admit the title is somewhat exaggerated. My second choice was “I would never recommend a reverse mortgage to my grandmother.” I think you know where I’m going with this article. I’m not a fan of reverse mortgages. In fact, I despise them. Before I go into the details as to why, let me ask you a question? If you had an opportunity to get a loan and didn’t have to make a payment during your life, would you consider it? If you answered yes, you’re easy bait for a reverse mortgage.
Last Updated on Thursday, 16 May 2013 15:45
Hits: 364
Business Calendar 5-15-13
Category: Business Written by Courier Newsroom

Networking Mixer
MAY 16—Classic Events will host the 2nd Annual Business/Political Networking Mixer at 5:30 p.m. at the Union Project, 801 N. Negley Ave., Homewood. This event gives exposure and cultivates relationships. This event is free and open to the public. For more information, call 412-723-2414 or email
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Last Updated on Wednesday, 15 May 2013 15:39
Hits: 300
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