California Real Estate Headline Roundup

HUD Making Major Changes to Distressed Asset Stabilization Program To Ensure Extra Safety for Borrowers

April 24th, 2015

          Sources: Housing starts rise, but builders still remain skeptical Delinquency Rate Drops Below 5 Percent For First Time Since 2007 New-home sales collapse in March Mortgage rates decline again, hover at 2015 lows Few Who Lost Homes in U.S. Will Make Purchases Again Soon White House Threatens to Veto Bill That Cuts CFPB Funding Existing home sales

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Mike Novak-Smith and Ted Boecker of RE/MAX Join Bruce Norris on the Real Estate Radio Show #431

April 24th, 2015

REO agent RE/Max (Full Bio) Owner and Broker RE/Max (Full Bio) Bruce Norris is joined again this week by Ted Boecker and Mike Novak-Smith. Ted is the owner and broker of RE/Max Results in Moreno Valley. He started the company in 1989, and he has been experienced at practicing law and being a general contractor. He

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Seriously Underwater Homes Increase for First Time in Three Years

April 23rd, 2015

  Today’s News Synopsis: Sales of new homes decreased last month by 11.4% to 481,000 from 543,000.  Freddie Mac reported mortgage rates decreased again this week with 30-year rates at 3.65% and 15-year rates at 2.92%.  The number of homes underwater increased in the first quarter for the first time in

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Sales of Existing Homes Increase Substantially in Wake of Spring Buying Season

April 22nd, 2015

  Today’s News Synopsis: Black Knight Financial Services reported a 4.7% decrease in delinquency rates, marking the first time they have gone below 5% in 8 years.  Mortgage applications, on the other hand, increased 2.3% from last week.  The sales of existing homes also increased substantially to their highest in 18

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CFPB Could Have Funding Cut if H.R. 1195 Vetoed

April 21st, 2015

  Today’s News Synopsis: The CFPB could have its funding cut should bill H.R. 1195 be vetoed as President Obama has expressed his possible intention of doing.  More and more landlords for single-family homes are planning to raise rents by over 5% this year.  Morgan Stanley is coming to the closing

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Many Who Lost Homes During Housing Crisis Not Expected to Purchase Again Soon

April 20th, 2015

  Today’s News Synopsis: Builder confidence continues to remain low despite housing starts increasing 2% last month.  Many people who lost their homes during the housing crisis are not expected to purchase again soon as they continue to remain cautious with the tight credit.  Home sales continue to increase, especially in

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Mike Novak-Smith and Ted Boecker of REMAX Join Bruce Norris on the Real Estate Radio Show #430

April 17th, 2015

REO agent RE/Max (Full Bio) Owner and Broker RE/Max (Full Bio) Bruce Norris is joined this week by Ted Boecker and Mike Novak-Smith. Ted is the owner and broker of RE/Max Results in Moreno Valley. He started the company in 1989, and he has been experienced at practicing law and being a general contractor. He has

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Wells Fargo Breached 2010 Contract Regarding ARMs According to Recent Ruling By Judge

April 17th, 2015

          Sources: Purchase mortgage application volume reaches highest level since July 2013 Daily Market Update: Mortgage rates slightly higher this week Mortgage Applications Decrease in Latest MBA Weekly Survey Housing starts and permits show deep weakness in March RealtyTrac: Foreclosures see first year-over-year increase since 2010 Based on Recent Signs, Analysts Still Hold High Hopes for Housing

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Neighborhood Stabilization Pilot Program Started By FHFA to Help Neighborhoods Hit Hard by Downturn

April 16th, 2015

  Today’s News Synopsis: Both permits and housing starts saw a 5.7% decrease last month and now stand at 1,039,000.  Foreclosures increased for the first time in five years by 4% in March according to RealtyTrac.  A new program known as the Neighborhood Stabilization Pilot Program was just started by the FHFA

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CFPB Makes Final Decision Regarding Providing Lists of Homeownership Counseling Organizations

April 15th, 2015

  Today’s News Synopsis: The House passed the Mortgage Choice Act in  a 286-140 vote.  Mortgage rates increased slightly this past week with 30-year rates now at 3.58% and 15-year rates at 2.87%.  Another final decision was also made by the CFPB regarding lender rules for providing lists of homeownership counseling

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