California Real Estate Headline Roundup

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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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

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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

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Ken Wilson of the Appraisal Institute Joins Bruce Norris on the Real Estate Radio Show #398

September 5th, 2014

  Ken Wilson President-Elect of the Appraisal Institute (Full Bio) Bruce Norris is joined this week by Ken Wilson. Ken is the 2014 president of the Appraisal Institute. He has helped many other offices in that organization and has been involved in the real estate appraisal profession for more than 35 years following a

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