California Real Estate Headline Roundup

Beth Peerce of NAR Joins Bruce Norris on the Real Estate Radio Show #400

September 19th, 2014

  Beth Peerce Vice President of the National Association of Realtors (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

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Gap Between Homeowners and Renters Continues to Widen

September 19th, 2014

      Sources: Loan Mods Down, Foreclosure Starts Up in July Multifamily Decline Pushes Nationwide Housing Starts Down 14.4 Percent in August Freddie Mac: Mortgage rates move to 3-month high Builder Confidence Hits Highest Level Since November of 2005 Industry Job Cuts Continue in Q2 HSBC Agrees to Pay $550M in RMBS Settlement Former HUD Secretary: Housing assistance programs

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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

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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

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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

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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

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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

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

September 12th, 2014

  Rick Sharga Executive Vice President of Auction.com (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

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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

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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

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