California Real Estate Headline Roundup

Housing Starts Decrease Almost 15% with the Decrease in Multifamily Production

September 18th, 2014

    Today’s News Synopsis: Housing starts decreased by 14.4% last month with the decrease in multifamily production.  Mortgage rates increased again to a 3-month high with 30-year rates now at 4.23% and 15-year rates at 3.37%.  In a recent announcement by the Federal Reserve, tapering will be completed by the end of

Read More »

Builder Confidence Highest in Nine Years

September 17th, 2014

            Today’s News Synopsis: The NAHB reported builder confidence increased to 59, bringing it to its highest level in nine years.  Mortgage applications also increased from last week by 7.9% according to the Mortgage Bankers Association.  Freddie Mac reported the multifamily sector is increasing drastically despite the housing market as a whole

Read More »

Foreclosures Increased in July While Loan Modifications Decreased

September 16th, 2014

        Today’s News Synopsis: The latest numbers from HOPE NOW showed foreclosures increased by a little over 1,000 to 70,401, while loan modifications decreased to 35,402 from 38,489.  The U.S. Bank just reached a settlement with HUD regarding discrimination allegations against a Native American couple.  Nine out of ten Americans still greatly

Read More »

Former HUD Secretary Says Changes Need to Be Made to Housing Assistance Programs

September 15th, 2014

        Today’s News Synopsis: More and more jobs in the mortgage industry are being cut in the second quarter according to the latest Mortgage Daily report.  HSBC is about to reach a settlement totaling $550 million with the FHFA over bad mortgage-backed securities.  Henry Cisneros, former secretary of HUD, said changes need

Read More »

New Jersey Among Top Five States With Highest Foreclosure Rates

September 12th, 2014

      Sources: Index Shows Employment Growth Slow But Steady Judicial Foreclosure States Seeing Faster Gains in Home Asking Prices Fewer consumers think it’s a good time to buy or sell homes Morgan Stanley Settles MBS Suit for $95 Million Waters proposes sweeping credit reporting reforms Today’s News Synopsis: Aaron Norris gives highlights from the news of the week

Read More »

Rick Sharga, Vice President of Joins Bruce Norris on the Real Estate Radio Show #399

September 12th, 2014

  Rick Sharga Executive Vice President of (Full Bio) On Friday, October 24, the Norris Group proudly presents its 7th annual award-winning black-tie event I Survived Real Estate. An incredible lineup of industry experts will join Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and opportunities emerging for real estate professionals. Proceeds

Read More »

Ruling Over Risk Retention Nearing Completion

September 11th, 2014

        Today’s News Synopsis: Freddie Mac reported mortgage rates have not shown much sign of increase with 30-year rates still at 4.12% and 15-year rates at 3.26%, only a .02% increase for both.  A ruling by financial regulators regarding risk retention has almost reached completion, a rule which once passed will reduce

Read More »

Morgan Stanley Reaches Settlement of $95 Million over Mortgage-Backed Securities

September 10th, 2014

        Today’s News Synopsis: Morgan Stanley has just reached a settlement and has agreed to pay $95 million to cover mortgage-backed securities sold under false pretenses.  Mortgage applications decreased 7.2% last week according to the latest survey released by the Mortgage Bankers Association.  U.S. Representative Maxine Waters has proposed changes be made

Read More »

Home Asking Prices Increasing in Judicial Foreclosure States

September 9th, 2014

        Today’s News Synopsis: Asking prices for homes are increasing in judicial states, which normally see a longer foreclosure process.  The number of consumers who think now is a good time to buy a home is on the decline.  Newt Gingrich will be featured as a keynote speaker for the Bipartisan Policy

Read More »

Employment Growing Slowly But Surely

September 8th, 2014

        Today’s News Synopsis: Employment is growing, but at a slow pace according to the latest Employment Trends Index.  Loans increased 50% for independent mortgage bankers.  Fannie Mae believes the housing market will continue to show improvement into 2015. In The News: Housing Wire - “Independent mortgage bankers see 50% loan growth” (9-8-14) “Loan production among

Read More »