Pulte Homes' lending is under scrutiny
A legal battle is under way between the Arizona Attorney General's Office and one of the state's biggest homebuilders, Pulte Homes. Details on the Arizona attorney general's investigation aren't public while the investigation is ongoing, but the Pulte lawsuit indicates the state prosecutor is looking into the builder's lending arm. According to the lawsuit, Pulte has provided the Attorney General's Office with 70,000 pages of documents. Both Pulte Homes and Pulte Mortgage are plaintiffs in the lawsuit.

The Christian Science Monitor News Service 1979:
How to ensure a Home Builder Does Good Work
... Improved protection for new-home buyers is almost sure to come.  One indicator is the strong new interest in housing problems shown by the Federal Trade Commission.  The watchdog agency's staff recently completed a major discussion paper on consumer housing problems...Elizabeth Dole warned that consumer patience with new home problems is 'rapidly running out" and that unless there is industry wide self-regulation, "You can brace yourself for full-scale, hard-hitting regulation from the government." 

Read more...

Express-News Letter to the Editor - San Antonio Inspections
 The quote in the March 11 Express-News regarding the Rivermist buyback is disturbing evidence that things aren't right in our city's management process. Repairs require “drilling and inserting a series of stabilizing piers in an engineered pattern across the slope failure area.” Do tell. How did a development of this magnitude get approved when it should have been apparent there were going to be problems? Barry Williams - Related artical: Editorial City inspector probe merits Council scrutiny and Buyback offers for 27 homes at Rivermist

AP Wire: No settlement in $58M judgment against homebuilder
Mediation efforts were unsuccessful Monday between an elderly Fort Worth-area couple and the politically powerful Houston homebuilder who lost a $58 million judgment to them, the couple's lawyers said. Van Shaw and Dan Hagood, attorneys for Robert and Jane Cull of Mansfield, said they failed to reach an agreement with lawyers for Perry Homes owner Bob Perry, once considered one of the nation's largest political donors. A Fort Worth judge had ordered the mediation to avoid appeals after the $58 million verdict against Perry and a home warranty company earlier this month.  Justices on the Texas Supreme Court each received political contributions from Perry and his family totaling more than $260,000.

Rivermist builder no-show at meet
But at the meeting organized by city staff, everyone's attention ultimately focused on the party not in attendance: the builder.  Officials from Centex Homes and parent company Pulte Homes were no-shows at the informational meeting the city had organized, saying they won't meet with consumer activist groups that have gotten involved in the Rivermist community, where dozens of residents want the builder to buy back their homes...Residents on Tuesday asked the city to help them get more information from the builder — particularly about how much and what kind of fill dirt was brought into the neighborhood, any topographical maps of the area before it was developed, information from soil testing and whether there is a water source somewhere on the land.

Homebuilder a no-show at city meeting about failed retaining wall
Some took off from work or school to meet with Centex-Pulte Homes at city hall. But instead of information on the upcoming fixes to a failed hillside in their subdivision, residents were faced with a no-show by the homebuilder. “They shafted all of us,” said one homeowner. “Quit using excuses,” said another.  Centex-Pulte Homes agreed to the meeting, put together weeks ago by the city. Then suddenly, the company pulled out. The last-minute communiqué left the city and its engineers to discuss what little they know of the builder’s conceptual design to not only fortify a failed hillside, but fortify homeowners’ confidence.

Rivermist residents say developer isn't doing enough
A bizarre sight out on the Northwest side Sunday afternoon.  Residents of  The Hills of Rivermist subdivision stood next to a giant, inflatable pig with a Pulte-Centex banner on its stomach. Residents tell us the pig symbolizes the greed they say the builder is showing.  They tell us their homes have decreased in value since a landslide, back in January, that caused most of the neighborhood to be evacuated.  "The neighborhood�s been tainted, and instead of trying to do the right thing and eliminate the problem by getting rid of the hill, Pulte-Centex just wants to put up another wall and sell those homes back to other people," says Rivermist homeowner Chuck Cervantes.

Rivermist residents' message to buyers: Beware the Pulte pigs
Angry Rivermist residents deployed this giant pig as a warning to potential Pulte Homes buyers, the residents said. The main attraction was an giant inflatable pig with a "Pulte-Centex" label taped to its stomach. The group took their message to a new audience: prospective buyers. The home owners say that they were never told they were buying homes sitting on expansive soil.

Rivermist Construction Plan
The city asked for it and now they have it. A possible solution to the wall failure at Rivermist. Which includes a complete wall reconstruction. Andy Cunningham has more. Rivermist Construction Plan  Rivermist Construction Plan.  

Centex Homes submits plans for new retaining wall at Rivermist
Centex Homes is hoping the third time�s the charm. This week it produceda preliminary design concept for a new retaining wall to replace one that collapsed in January in a Northwest Side neighborhood � which in 2007 replaced one that was not �performing to expectations.� But homeowners say they are weary after two months of stress and uncertainty and are still on the fence about whether to trust that this latest fix will last.

Express News: Centex Homes wrong about wall threat
We received a video of the entire meeting, which shows Centex claimed that the neighborhood was safe because city firefighters were leaving.

Centex releases new wall design
Centex Homes is hoping the third time's the charm. This week it produced a preliminary design concept for a new retaining wall to replace one that collapsed in January in a Northwest Side neighborhood — which in 2007 replaced one that was not “performing to expectations.” But homeowners say they are weary after two months of stress and uncertainty and are still on the fence about whether to trust that this latest fix will last.  Becker said. “It's not the house and the wall I'm worried about. It's the land that they built it on. What if 10 or 20 years from now something happens? What's to keep the land from moving again?” Residents expect to have a meeting with city officials and Centex on Tuesday.Karen Maxwell, who lives across the street from 20 of the evacuated houses, isn't convinced a new wall is the solution. “This is going to be the third wall, and we're supposed to believe them again?”

Builder rake in refunds
Several publicly traded companies, including Lennar Corp., Hovnanian Enterprises Inc. and Pulte Homes Inc., expect to rake in roughly $2.5 billion in federal tax refunds combined, according to company filings. Lawmakers amended the tax code last fall to help struggling companies stay in business by essentially giving them a greater opportunity to recoup previously paid taxes. The move has helped some of the biggest builders turn a profit for the first time in years. But some small builders say the souped-up tax break is primarily giving their large rivals yet another competitive edge. That's because the latest windfall looks less like a lifeline and more like a war chest. Several large builders are now sitting on more than $1 billion in cash and are snapping up tracts of land to be ready for the next building boom.

Rivermist hillside fix to begin

City OK's plan to stabilze Rivermist retaining wall
Centex has met with city officials to present a plan to stabilize the failing retaining wall in San Antonio's Hills of Rivermist subdivision.The company released information that described the sort of work needed to make the area secure from future landslides.They say the first stop included drilling and inserting several stabilizing piers in a pattern across the landslide area of the slope. According to Centex, the piers will stabilize the area so that soil and damaged portions of the wall can be removed.They will utilize 100 piers, or pins, which are 30 feet long and between 2 to 3 feet in diameter. Each of the pins has a nine-inch steel tube embedded with 4,000 psi concrete. Additional KENS 5 News Reports