Daschle to kick off construction lending seminar | VailDaily.com

Daschle to kick off construction lending seminar

DENVER – Former Senate Democratic Majority Leader Tom Daschle will kick off a two-day construction lending seminar next week in Avon at a time when the housing market is cooling off in many parts of the country.About 120 industry representatives are expected to gather to discuss key issues ranging from the economy to regulations and risk mitigation.Although average U.S. home prices were up 12.02 percent in the third quarter from the previous year, economists with the Office of Federal Housing Enterprise Oversight said there were signs that the rate of increase in home prices was slowing in some areas of the country.Speculation about a potential housing bust has yet to show merit, Daschle said in a recent interview. “The industry has been able to defy it to date and I’m hopeful that they continue to do so,” he said.However, Daschle said, rising interest rates could pose some obstacles for the industry.Daschle said construction lending businesses are an underpinning of the improving economy. “Without it, I don’t think we would have the kind of success rate with regards to economic growth as well as employment as we’ve seen in recent years,” he said.Daschle is scheduled to address the seminar on Wednesday. Other speakers include Doug Duncan, chief economist of the Mortgage Bankers Association, and Jim Clayton, founder and former chief executive officer of Clayton Homes.The event is sponsored by Centennial-based Granite Loan Management, a construction risk mitigation company, and the nonprofit trade group National Residential Construction Lenders. —On the Net:Granite Loan Management: http://www.graniteloan.comVail, Colorado

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