Fall guy? FHA cites First Guaranty on loans
The Federal Housing Administration’s Mortgagee Review Board today announced a settlement agreement with a Virginia-based mortgage lender for failing to apply FHA’s underwriting standards when approving loans. Among the alleged violations, the MRB claimed First Guaranty Mortgage Corporation ignored blemished credit and payment histories, approved loans with debt-to-income ratios that exceeded HUD’s benchmarks, and permitted borrowers to be charged improper mortgage broker fees.
As part of the settlement announced today, FGMC agrees to pay a $127,500 civil money penalty and to reimburse more than $102,000 to FHA for past insurance claims and broker fees paid by borrowers who have since defaulted and been foreclosed upon. In addition, FGMC will refund nearly $7,900 in improper mortgage broker fees to four families. Finally, FGMC agrees to reimburse HUD for any losses that may be incurred if any one of 18 additional loans goes into default within five years of settlement.
“FHA must ensure that lenders meet the strictest standards when underwriting loans, and not charge borrowers unnecessary or excessive fees,” said Acting FHA Commissioner Bob Ryan. “It’s critical that all lenders do the hard work at the front end of any mortgage to ensure homeownership can be sustained over the long haul.”
FHA’s Mortgagee Review Board sanctions FHA-approved lenders for violations of the agency’s program requirements. The Board has the authority to withdraw the FHA approval of a lender that violates FHA requirements so that the lender cannot participate in FHA programs. The Board also has authority to enter into settlement agreements with lenders and can impose civil money penalties, probation, suspension, and issue letters of reprimand. This fiscal year alone, the MRB took 20 administrative sanctions against lenders, including reprimands, probations, suspensions, withdrawals of approval, and civil money penalties.
The AFP on WREL: Ready to play
AFP editor Chris Graham talks sports on WREL-1450AM’s “Online with Jim Bresnahan.”
The segment begins with a look at the college baseball landscape. Virginia Tech availed itself well over the weekend in a series with Florida State, while UVa. continues to dominate. Can the Cavs, now #1 in all four national polls, make a serious run at a national title in 2011?
A look at Big South baseball, JMU baseball, the Majors and spring football wrap us up. Read more
The AFP on WREL: Ready to play
AFP editor Chris Graham talks sports on WREL-1450AM’s “Online with Jim Bresnahan.”
The segment begins with a look at the college baseball landscape. Virginia Tech availed itself well over the weekend in a series with Florida State, while UVa. continues to dominate. Can the Cavs, now #1 in all four national polls, make a serious run at a national title in 2011?
A look at Big South baseball, JMU baseball, the Majors and spring football wrap us up.
Downtown couture: Shop adds to local flavor in Waynesboro
Couture fashion – not exactly what you’d expect to find in Waynesboro, but that is one of the latest additions to Downtown Waynesboro with the addition Mariah Amine Couture.
Don’t be too intimidated by the word couture, though; the shop still has the local feel that local shoppers are comfortable in. It’s within a few miles from home, not big enough to be lost or confused in, and you may even see Mariah’s dog, Turbo, lounging back in the workshop. It’s a place where you won’t feel out of place, but you can still find unique artistic pieces that make great gifts or stylish splurges for yourself.
The store opened in December, but the story itself began back when Clark was in high school. She was taught the basics of sewing by her mother, but then branched off and experimented, teaching herself as she went. Her main interest was in historical clothing, and her first pieces were historical replicas.
“My first piece was actually an Elizabethan dress. I did all the undergarments and the hoop skirt and all that stuff. I spent a whole year working on it; crocheted all the lace for it and did it all from scratch,” Clark said fondly of her first creation, which she still has and does not intend to sell.
She had planned to continue her education at Virginia Tech as a chemistry major, but her hobby of clothing design turned into a passion after assisting the Theater Department’s costume shop. “I just really enjoyed it and decided I wanted to focus more on that direction than chemistry. So I went to the Apparel Department because in the Theater Department you had to be a theater major. You couldn’t just be a costume major. So that was when I started getting into more modern apparel.”
During this time, Clark applied for a competition with the International Textile and Apparel Association, a professional, educational association composed of scholars, educators and students in the textile, apparel and merchandising disciplines in higher education. A long red ball gown of hers (that is currently exhibited in the front of her shop) won first prize and granted her a one-month scholarship to study in Paris. (She had had two pieces accepted over two years, but that particular piece won the award.) She traveled to Paris after she graduated from Virginia Tech, with a degree in apparel housing and resource management with a concentration in apparel design, a mouthful of words that translates like a BS in apparel design.
Only five scholarships had been given out through different organizations; to four Americans, Clark as well as three Texans, and one Australian. The program itself only accepted between 20 and 30 students from across the globe, including young designers from the U.S., China, Australia, Brazil, Canada, and England.
For a while Clark did not sell her apparel. She would make clothing for her own use or for the enjoyment of a project. However, she had begun selling bags that she had designed and sewn at craft shows and off of her website. The idea of owning a shop did not become a reality until last year when she felt a space of her own would be necessary.
“I was looking for a workshop area. I had sort of outgrown the space I had in my house, and I decided if I was going to go ahead and get the space, I might as well get a space that I could have retail and workshop, which I have my workshop in the back. It was last summer that I first started looking, and I bought the building in the end of September.”
The store opened its doors Dec. 15, but the official grand open and ribbon cutting ceremony took place April 8. A key part of the store, Clark’s ready-to-wear line of clothing was debuted the following day, April 9.
“I love history and I love historical clothing, but I don’t want my stuff to look dated, so I try to find inspiration in history and then make them modern, which I’ve had a lot of fun with,” Clark said. “The dresses are sort of ’50s-esque with the flared skirts and tight bodices, but at the same time they don’t have sleeves, they’re much more modern. I try to do styles that can be worn by a wide range of ages. I’ve had people try on those dresses from early 20s to 50s, and they look fine on all of them. I try to do things that look nice on different body types as well, because I do have a small line and I want to make it as versatile as possible. The skirts are A-line; they’re very simple and basic. I want pieces that don’t necessarily says, Oh, this is spring 2011, I want something that you can put in your closet and wear it this summer, wear it next summer, I’ve worn it last summer. It’s not trendy, and it’s not going to be out of date in a couple months.”
Mariah Amine Couture is not just limited to the work of Clark, though. She has welcomed in dozens of pieces from other artists with only two regulations: items must be handmade and U.S.-made. Some materials are made somewhere else, but everything has been somehow altered in this country. Works from 16 different artists make up the present inventory of the store. These connections are people that she had known before owning the store as well people who have approached her with their work and received her approval. Not all of these artists are local to the Shenandoah Valley; currently she is featuring work from a photographer out of Pennsylvania and a jewelry artist from New Hampshire.
The store offers bags, ranging from a very small knitting bag designed to hold double pointed needles for sock knitters, all the way up to a large travel bag with pockets all the way around the outside and several pockets inside and another bag with a zipper that snaps in and out. Or maybe you’re looking for hand-woven silk scarves, hand-turned pens, jewelry, woven alpaca blankets, hand knitted items, dog collars and leashes and key fobs that are hand-sewn, note cards that are hand-made, hand painted yarn made in Staunton, or books that are written by local authors on local topics.
Also, if you’re looking for a skill rather than a physical object, Mariah Amine Couture can still accommodate you. Sewing classes range from absolute beginner, “turning on the machine, how to wind a bobbin, how the machine works, and the different kinds of stitches”; all the way up to advanced pattern making classes are offered in the workshop, as well as private sewing and knitting lessons. Additionally, in the fall, Clark plans to offer group knitting classes.
The sense of giving back to the economy, buying things that are handmade, and buying gifts that are made from recycled materials helps shoppers feel more comfortable and confident in their purchases and gives all items at Mariah Amine Couture a one-of-a-kind guarantee. So go ahead, grab your wallets, head downtown, and check out this new addition.
To learn more and view items visit www.mariahamine.com.
Story by Suzi Foltz
Gas prices creeping toward $4 a gallon
The national average price of a gallon of regular unleaded was at $3.83 a gallon as of Monday morning, up six cents from a week ago and 97 cents over the past year.
That’s the bad news. The sort of good news: Don’t expect prices to stay at this level for too long.
“Should prices continue their upward tick, demand would undoubtedly be affected, theoretically reversing the price of crude oil and gasoline,” said Martha M. Meade, director of public and government affairs for AAA Mid-Atlantic.
Crude oil hit their highest levels in more than two and a half years early this week, trading above $113 a barrel, before dropping below $106 a barrel Tuesday. Despite continued unrest in the Middle East and North Africa, analysts believe this week’s price dip could be a delayed reaction to softer demand and speculators sensing the end of the bullish run.
In addition, as markets adjust to turmoil in Libya and supply disruptions, focus returned to weakness in the U.S. dollar and better-than-forecast consumer confidence, both aiding crude oil’s bounce back following a tumble early in the week.
In all, crude oil prices dipped 3 percent last week to close at $109.66 Friday.
In its weekly report, the U.S. Energy Information Administration data showed crude stocks rose 1.6 million barrels to 359.3 million barrels. Gasoline stocks fell 7 million barrels to 209.7 million barrels.
“With Memorial Day weekend just six weeks away, motorists and analysts alike will continue to eyeball the direction of crude oil markets and gas prices looking for any signs of an about face,” Meade said.
EMU sustainability video wins award
Eastern Mennonite University has been honored as a winner of the National Wildlife Federation’s annual competition “Chill Out: Climate Action on Campus.” This award program recognizes U.S. schools that are designing and implementing creative approaches to advance sustainability on campuses. EMU is one of six winning schools that were chosen from a national pool of entries.
EMU’s winning entry gives an overview of sustainability efforts at EMU and highlights the installation of a solar array on Hartzler Library roof in fall 2010. The two-minute video was produced by EMU’s marketing and communications media specialists Lindsey Kolb and Jon Styer, both graduates of EMU’s Visual and Communication Arts program. It can be viewed at emu.edu/video/green.
Among the university’s sustainability efforts highlighted in the video are a bicycle cooperative, integration of sustainability across the entire curriculum, dining hall composting that is used in the campus garden to grow produce for the dining hall, a residence hall built to Leadership in Energy and Environmental Design (LEED) certification standards and more. The video prominently features EMU’s solar power array installation, the largest solar deployment in the state of the Virginia to date.
The solar array has the capacity to generate 104.3 kilowatts of clean energy from 328 high efficiency photovoltaic solar panels installed on the library roof. Within the first six weeks of operation it offset emissions of more than 8,700 pounds of carbon and also reduced EMU’s energy consumption and peak demand from the grid. In its 35-year lifetime the array is expected to offset over 6,000 tons of carbon. Live data about energy generated by the solar array can be viewed at emu.edu/solar.
EMU anticipates installing a second even larger array adjacent to the University Commons in the coming months.
“EMU has provided me with numerous opportunities to put my environmental idealism into practice,” said senior environmental sustainability major Emma Stahl-Wert. “Helping start the campus garden my freshman year, learning about LEED certification in the Green Design class, trying my hand at chicken keeping, and seeing how EMU strives to integrate sustainable practices into the cultural fabric of the way we do things, has taught me that there are ways to live other than the cultural norm. This has instilled in me the desire and the skills to find those ways.”
Other winning schools in the competition include: Central Carolina Community College, Pittsboro, N.C.; Baylor University, Waco, Tex.; Manhattan Comprehensive Night and Day High School; Missouri University of Science & Technology, Rolla, Mo.; and Montreat (NC) College.
The efforts of the six winners will be broadcast in NWF’s Chill Out: Climate Action on Campus webcast on April 13 (campuschillout.org). The colleges will also receive a monetary award from the National Wildlife Federation to continue exploring innovative clean energy and climate action initiatives. This year’s webcast will be co-hosted by Tara Platt, voice and live-action actress, and Yuri Lowenthal, voice of Superman on CW’s Legion of Superheroes. The free program will celebrate this year’s award winners and showcase initiatives occurring on campuses across the nation. The webcast will be available for viewing on-demand after April 13.
“The passion that comes from these students, faculty and staff for a sustainable world invigorates the rest of society to continue the fight towards a clean energy economy,” says Jen Fournelle, Chill Out manager for National Wildlife Federation. “Chill Out is an incredible learning opportunity for campus leaders to see what others are doing and initiate positive changes in their own community. Academic institutions are an integral part of society. If if they don’t lead the charge against climate change, who will?”
Campus leaders all across the country are encouraged to host events on their campuses and in their wider communities to watch the webcast. The program will be part of a series of events scheduled on hundreds of campuses across the country, building excitement in the week leading up to Earth Day 2011 (April 22). Visit campuschillout.org for details on hosting a live screening party and to view the webcast.
“Chill Out: Climate Action on Campus” is supported by The Kendeda Fund and other partners including Climate Counts, AASHE, Energy Action Coalition, Jobs for the Future, Campus Conservation Nationals, Earth Day Network and more.
National Wildlife Federation’s mission is “to inspire Americans to protect wildlife for our children’s future.” Visit nwf.org.
Robert Hurt: The path to prosperity
This past week House Republicans continued to take action to bring real change to Washington by passing a long term budget plan for 2012 and beyond, which stops spending money we don’t have, lifts our crushing debt burden, and helps promote job creation.
With $14 trillion in debt, $1.6 trillion in deficit spending, and the fact that we are borrowing over 40 cents on every dollar we spend, it is critical that we begin to take the necessary steps to reduce government spending so that we can tackle our debt, grow the economy, and create jobs for Fifth District Virginians.
Following my vote in favor of the House Republicans’ “Path to Prosperity” budget blueprint, I released the following statement:
By failing to adopt a budget last year, the Democrat Congress allowed Washington’s reckless spending to go unchecked, adding trillions to our debt and deficits. Despite our dire debt crisis, the President’s budget proposal for 2012 continues to put our country on an unsustainable path. It increases our spending and borrowing, nearly doubling our debt over the next decade, imposes $1.5 trillion in new job-destroying taxes on families and small businesses, and fails to take any action to preserve our health and retirement programs.
The House Republican budget proposal, however, is an honest, straightforward, and responsible approach to the serious fiscal challenges that face the 5th District and our nation, and leads where both Congressional Democrats and the President have previously and continuously failed.hurt.house.gov or call my Washington office: (202) 225-4711, Charlottesville office: (434) 973-9631, Danville office: (434) 791-2596, or Farmville office: (434)-395-0120.
Delivering on the message sent by Central and Southside Virginians to return fiscal discipline and restraint to Washington, the Republicans’ ‘Path to Prosperity’ budget is an important first step that cuts spending, reduces our debt and deficits, spurs job creation and economic growth, and strengthens and protects our health and retirement programs.
The proposal begins to balance the budget and pay down the debt by cutting $6.2 trillion in government spending and reducing the deficit by $4.4 trillion over the next decade and reining in government spending to 20 percent of the economy by 2017. It repeals and defunds the government takeover of health care and prevents and eliminates trillions in tax increases at a time when the people of the 5th District can least afford it. And it seeks to save our health and retirement programs for both this generation and the next, while ensuring there is no change in benefits for those at or near retirement.
As House Republicans continue to take the necessary steps to get our fiscal house in order to foster a better environment for job growth, it is my hope that all of us in Washington can come together and work to address these important issues so that we can leave our children and grandchildren with an even more prosperous America.
Robert Hurt represents the Fifth District in the U.S. House of Representatives.
Jim Bishop: Senior moments to remember, if only I could
I’m not completely certain these days. I know I’m experiencing increasingly large dosages of “senior moments.”
The malady manifests itself numerous ways, chief among them – injecting more typographical and inexcusable grammatical errors into my writing, moving body text around and then failing to delete the edited copy, specifying the correct day of the week for an event but the date doesn’t match. That’s just for starters.
Other top contenders for the “I’m losing it” award include:
Wandering into a room and then wondering what I’m doing there in the first place;
Remembering someone’s name an hour after I badly needed it;
Needing to write things down as reminders and printing information in hard copy form in order to retain anything,
Reciting the names of all six grandkids before honing in on the one I intended to refer to (my parents went through the same ritual with us five siblings, especially when they were upset about something).
Someone sent me a cartoon labeled “The First Senior Moment.” It depicts two dinosaurs balancing on top of a large rock looking out at Noah’s ark departing the flooded terrain, and one says to the other, “Oh, crap! Was that today?”
I’m getting some of those feelings of impending extinction myself.
I acknowledge these travails as a natural(?) extension of the aging process, as frustrating as it feels at times.
What seems to be my saving grace these days is taking weekly line dance lessons. Our group meets for intermediate class sessions in instructor Connie Daniels’ wooden floor basement, then some of us assemble at the Harrisonburg Rec Center the next evening to practice what we’ve learned – or tried to previous evenings.
Not only is this good exercise with a group of fun people, but the routine itself is, I think, offering a generous amount of mental and physical conditioning for us “old people.” There are only so many basic steps to learn; the key to mastering the dances is memorizing the sequences through repetition and regular practice. Dancing helps massage the heart, mind and soul.
Another almost serendipitous happening of late – Millard and Joyce Osborne, an older but remarkably active, involved couple at our congregation, Community Mennonite of Harrisonburg, initiated a 65-and-older group that meets once a month at the church. I’ve had to get over the fact that Anna and I qualify for membership. We play card and board games while checking in with each other and just have fun – activities easily neglected in these fast-paced times. It’s where I belong.
As we enter into another growing season – with all its natural splendor – it’s also another mowing season. It’s nice to have an antique John Deere riding mower to transport my aging carcass across our three-quarter acre lawn; never thought I’d own one. I’m thankful that our house, too small for our family for many years, now is the perfect size for hosting our church small group, weekend guests and our six grandchildren.
In the midst of trying to recall whom I just talked to in person or on the phone, I glance again at a slip of paper affixed to the base of my computer with this reminder: “Remember that if you have food in the refrigerator, clothes on your back – even if I keep donning items that don’t match – a roof overhead and a place to sleep, you are richer than 75% of this world. If you have money in the bank, in your wallet and spare change in a dish somewhere you are among the top 8% of the world’s wealthy.”
Thanks for that reminder – along with the recognition that while my brain might be experiencing accelerating atrophy, I am able to rise (slowly) each morning, awaken with the help of a hot shower and robust coffee, kiss my supportive spouse goodbye, breath a prayer for my caring family and head out to the door to gainful employment for a little while longer. Samuel Langhorne Clemens, aka Mark Twain, whom I’d love to sit down and have a long, leisurely conversation with, said it this way: “Work like you don’t need the money. Love like you’ve never been hurt. Dance like nobody is watching.”
A Japanese proverb seconds that emotion: “We’re fools whether we dance or not, so we might as well dance. ”
So, let’s boogie, even if we don’t remember all the steps.
Jim Bishop is public information director – I think – at Eastern Mennonite University. He can be contacted at bishopj@emu.edu.
#1 UVa. sweeps Duke
The No. 1-ranked Virginia baseball team swept a doubleheader with Duke Sunday at Davenport Field, winning a 3-2, 11-inning nailbiter in the opener before rolling to an 18-4 victory in the nightcap. In earning its sixth straight ACC series win and fourth conference weekend sweep, Virginia improved to 36-3 overall and 16-2 in the ACC, while Duke fell to 20-19, 4-14 in the conference.
Steven Proscia (Jr., Suffern, N.Y.) went 5-for-8 with a homer and three RBI in the doubleheader as he wrapped up a great week in which he went 12-for-21 (.571) with a pair of homers and eight RBI. John Barr (Sr., Ivyland, Pa.) went 4-for-8 with four doubles and five RBI in the twinbill. Read more
UR splits pair with Dayton
Mike Mergenthaler had three hits and drove in three runs, while Matt Trent fired the final 4.2 innings of stellar relief as Richmond won a see-saw battle at Dayton, 8-6, in the nightcap of a doubleheader Sunday. The Flyers won Sunday’s first game 15-5.
With the Sunday split, the Spiders moved to 19-15-2 overall and 6-3 in the Atlantic 10, while the Flyers sit at 20-17, 6-3.
The nightcap, which featured four ties and five lead changes, swung the Spiders direction for the final time in decisive sixth inning. With Dayton leading 5-4, Bret Williams launched a lead-off solo shot over the left-field wall for the tie and Mike Small followed later with a sacrifice fly that put the Spiders on top 6-5. Read more




















David Reynolds: Wishing for jobs
Posted on April 18, 2011 · Leave a Comment
Once upon a time in this great land there were two major political parties. One was called the Republican Party. Others called themselves Democrats. Then there was a financial meltdown. It flowed like lava over the land. The people were scared. So they united to form a single party. They called it the Jobs Party. No one leans left or right, everyone stands straight for jobs. No matter where.
However, before the lava flowed into our neck of the woods, we were fond of proclaiming that this place was special, that the quality of life here meant more than a bigger pay check elsewhere.
I liked that kind of thinking. So I moved to be with such thoughts.
I believe that you and I are in agreement on matters of time and money. Time counts more. A big boost in our work hours versus our free time can upset our way of life. If we get all of the jobs we wish for maybe we will be at risk of killing what we most cherish about our area. I recently returned from the Big Apple, a great place to visit, but who from the valley wishes to live there? We plain don’t like city life – even when it means fatter pay checks.
Do Virginia’s leaders know this? I’m not sure. Lt. Governor Bill Bolling sent me an email. He wrote, “During the past decade, the manufacturing sector in America has shed 5.5 million jobs.”
Mr. Bolling, I have a simple solution for getting those jobs back. It is for the American worker to be less productive. We have the most productive workers in the world. It’s why the Japanese don’t build most of their cars in Japan. We have a labor distribution change, not a manufacturing problem. The manufacturing share of our economy is down somewhat, but what is really down is the number of workers engaged in manufacturing, from 50% to 16%.
Now I don’t believe Mr. Bolling wishes for Virginians to be less productive. Yet we keep going after jobs as if it is simply a numbers game. Life is more than numbers. When Toyota quietly pulled out of a plant site near the Augusta-Rockbridge County line and headed for Mississippi we cried. And when ground was recently broken for the new Heatex plant at Natural Bridge Station we cheered, in spite of the fact that only 14 new blue collar jobs will be created.
Ah, blue collar jobs! Why don’t I hear about campaigns attempting to bring white collar, higher paying, more professional jobs to the area? Because we are still stuck in a blue over white frame of mind. An imbalance of work collars can unbalance our lives. And what are the side effects of more jobs? Do we really wish to be like Northern Virginia? Or another old plant city?
What’s the answer? It is not in the wishing – it is in being careful – - careful that we have the right numbers and the right mix of jobs and knowing that the valley has a good thing going. And not to mess it up in order to be like too many other places in Virginia.
I think I’ll quit the Jobs Party and rejoin one of the other two. When the donkey and the elephant battle it out we will get the right jobs mix.
Filed under Blogs · Tagged with david reynolds, democratic party, jobs, republican party