California Real Estate Headline Roundup

Bipartisan Bills for Change in Mortgage and Housing Finance Industry Approved by House Committee

July 30th, 2015

  Today’s News Synopsis: Ellie Mae reported a 65% increase for their revenue in the second quarter to $65.9 million, up from $40 million.  Freddie Mac reported mortgage rates remained the same around 4% with 30-year rates at 3.98% and 15-year rates at 3.17%.  Several bipartisan bills that would bring change

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Federal Fund Rate to Remain the Same Until Labor Market Improves

July 29th, 2015

  Today’s News Synopsis: The National Association of Realtors reported a 1.8% decrease in pending home sales, the first time this year to see sales decrease.  The Federal Reserve has decided to keep the federal fund rate the same until the labor market continues to improve.  Single-family rental securitization vacancy rates

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Areas Hit Hardest By Crisis Were Positively Effected By Freddie Mac’s Take Root Program

July 28th, 2015

  Today’s News Synopsis:   The homeonwership rate decreased in the second quarter to its lowest in almost 50 years at 63.4%.  The program established by Freddie Mac after the housing crisis called the Take Root Program has proven very useful in areas hit hardest by the crisis.  The House Committee is

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MERS Has Authority to Foreclosure According to Recent Ruling

July 27th, 2015

  Today’s News Synopsis:   New home sales were not up to par last month after having decreased 6.8% to 482,000 according to the latest data from HUD and the US Census Bureau.  At the same time, demand for homes may be less active according to the lastest Redfin data.  A recent

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New Home Sales Decrease 6.8% from May

July 24th, 2015

      Sources: Existing U.S. Home Sales Climb to Highest Level in 8 Years New home sales fall 6.8% from May Average rate on 30-year mortgage falls Fed Rules Eight Banks to be Held to Minimum Capital Holdings or Surcharges CFPB Sets Final TRID Rule Effective Date TILA-RESPA Integrated Disclosure rule implementation Boomers Competing With Millennials for U.S. Urban

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Erik Hernandez Joins Bruce Norris on the Real Estate Radio Show #444

July 24th, 2015

  Erik Hernandez Lee and Associates (Full Bio) Bruce Norris is joined this week by Erik Hernandez. Erik is the senior vice president and principal with Lee and Associates. During his career he has worked individually and with a team of brokers within Lee & Associates where the team achieved regional and national recognition

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Fannie Mae Expects Strong Second Half After Positive First Half of Year

July 23rd, 2015

  Today’s News Synopsis:   Fannie Mae reported a good start to this year in the way the economy performed and is expected the second half of the year to do the same or better.  Shares of all-cash buys decreased to its lowest in 82 months, which in turn lead to the

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Bill Introduced By Texas Lawmakers to Do Away with CFPB

July 22nd, 2015

  Today’s News Synopsis: The National Association of Realtors reported existing home sales increased 3.2% to their highest in 8 years.  A new bill was introduced by lawmakers in Texas to do away with the CFPB for good.  The Mortgage Bankers Association reported an increase in their forecast for lending on

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CFPB Sets TRID Rule Discussion Date For October 3, 2015

July 21st, 2015

  Today’s News Synopsis:   The CFPB has finally set its date to discuss the TRID rule for October 3, 2015.  Although baby boomers and millennials have been competing in the rental market, it is believed soon the baby boom generation will be leading the competition and causing an increase in rents

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JPMorgan Reaches Settlement Totaling $388 Million Over Mortgage-Backed Securities

July 20th, 2015

  Today’s News Synopsis:   The Federal Reserve made the decision today that the top eight banks in the nation must comply with the minimum requirements for capital holdings if they do not want to face extra surcharges.  JPMorgan Chase just reached a settlement with investors of mortgage-backed securities totaling $388 million.

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