Today’s News Synopsis:
The Mortgage Bankers Association reported a 2.3% increase in mortgage applications from last week. HomeUnion released a list of the top cities where landlords could expect to see the best returns on rentals. Fannie Mae plans to release the financial results for 2016 and for the fourth quarter this coming Friday.
In The News:
Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (2-8-2017)
“Mortgage applications increased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 3, 2017.”
The Mercury News – “Rebound anticipated for Silicon Valley commercial real estate” (2-8-2017)
“Santa Clara County’s commercial real estate market suffered a slump in 2016 compared to the white-hot year of 2015, but the sector should bounce back this year, according to a new forecast.”
Fannie Mae – “Fannie Mae Announces Scheduled Release of Fourth Quarter and Full-Year 2016 Financial Results” (2-8-2017)
“Fannie Mae (FNMA/OTC) today announced plans to report its fourth quarter and full-year 2016 financial results on Friday morning, February 17, 2017, before the opening of U.S. financial markets.”
San Francisco Business Times – “Bay Area immigrant tech workers are pulling out of buying real estate over Trump visa concerns” (2-8-2017)
“Some Bay Area immigrant tech workers are pulling out of buying local real estate over concerns that President Trump’s H1-B visa plan could force them to return to their home countries, local real estate agents report.”
“Home prices continue to climb in already-expensive Seattle, but investors with enough cash to get into the city’s landlord business could see big returns.”
DS News – “Outsourcing May Be Best for Lender Document Trailing” (2-8-2017)
“Nationwide Title Clearing, a post-closing services provider serving many of the nation’s largest financial institutions, investors, servicers, and custodians, released a white paper for lenders offering a scoring method to help them manage their trailing document process after a loan is originated.”
Bloomberg – “Supply Is the Technical Factor Behind Global Rally in Markets” (2-8-2017)
“Rising political risks. A fading era of central-bank stimulus. The potential end of a multi-decade bull run in U.S. government debt. Markets have so far this year shrugged off a laundry list of looming headwinds, with U.S. equities scaling new heights and sales of corporate bonds reaching record levels.”
“Freddie Mac (OTCQB: FMCC) announced today that it plans to launch a $500 million reopening of its 1.50% USD Reference Notes® security that matures on Jan. 17, 2020.”
Hard Money Loan Closed
Fontana, California hard money loan closed. Real estate investor received loan for $393,000 on this single family property appraised for $606,000.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with OCREIA on Thursday, February 9.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Alpine Premier Investments on Wednesday, February 15.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at the San Diego REI Expo on Saturday, February 18.
Image copyright source: www.flickr.com/photos/mattimattila
The Federal Reserve reported an increase in consumer borrowing in December by $21.3 billion. The Super Bowl Ad aired by Quicken Loans garnered much criticism, although there were many who thought it was an effective ad. Wells Fargo reached a settlement with Genuine Title totaling $16.2 million.
For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.
Tags: bruce norris, fannie mae, freddie mac, hard money, Hard money lender, mortgage applications, mortgage bankers association, Nationwide Title Clearing, private money, real estate investing, rental markets, Silicon Valley, the norris group, trust deeds, USD Reference Notes, Weekly Mortgage Applications Survey