Today’s News Synopsis:
The Mortgage Bankers Association reported a 3.7% decrease in mortgage applications from last week. They also reported an increase in delinquencies in the fourth quarter, putting them now at 4.8%. NAHB reported builder confidence decreased slightly to 65 but continues to remain stable.
In The News:
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (2-15-2017)
“Mortgage applications decreased 3.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 10, 2017.”
“Builder confidence in the market for newly-built single-family homes declined two points in February to a level of 65 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”
Fannie Mae – “Servicers, borrowers and investors all benefit as Fannie Mae simplifies servicing” (2-15-2017)
“Fannie Mae (FNMA/OTC) today announced two significant steps forward toward Simplifying Servicing™ . Effective immediately, all Fannie Mae servicers can easily harness the power of the industry-leading loss mitigation tool, Servicing Management Default Underwriter™ (SMDU™) through a new user interface.”
Bloomberg – “Immigrant Workers, Families to Protest By Staying Home” (2-15-2017)
“Organizers in cities across the U.S. are telling immigrants to miss class, miss work and not shop on Thursday as a way to show the country how important they are to America’s economy and way of life.”
Mortgage Bankers Association – “Delinquencies Increase in Fourth Quarter from Ten-Year Lows, Foreclosure Starts Continue Decline in Latest MBA Mortgage Delinquency Survey” (2-15-2017)
“The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.80 percent of all loans outstanding at the end of the fourth quarter of 2016.”
Freddie Mac – “Freddie Mac Provides Record Support for Multifamily Mission in 2016” (2-15-2017)
“Freddie Mac (OTCQB: FMCC) today announced that the company delivered record financial support for the multifamily market in 2016 for targeted affordable housing, smaller multifamily properties, green housing, and seniors housing.”
Bloomberg – “No More Waiting: Inflation May Have Already Hit Fed’s Target” (2-15-2017)
“Forget wondering when U.S. inflation will reach the Federal Reserve’s goal. It may be there already. The biggest monthly jump in almost four years in the Labor Department’s consumer-price index led some analysts to raise their estimates Wednesday for the Fed’s preferred inflation gauge, the Commerce Department’s personal consumption expenditures price index.”
Mortgage Bankers Association – “MBA Appoints Pete Carroll and Andy Crisenbery to MISMO Board of Directors” (2-15-2017)
“The Mortgage Bankers Association (MBA), parent corporation of the Mortgage Industry Standards Maintenance Organization (MISMO), appointed Pete Carroll, Executive Vice President at Quicken Loans, and Andy Crisenbery, Senior Vice President, Managing Director of eLending Solutions at Black Knight Financial Services, to the MISMO Board of Directors.”
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor with Alpine Premier Investments TONIGHT.
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.
Bruce Norris will be speaking at 2017 Real Estate Market Forecast with Coldwell Banker on Tuesday, March 7.
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Tags: bruce norris, builder confidence, Commerce Department, delinquencies, fannie mae, Federal Reserve, foreclosure starts, freddie mac, hard money, Hard money lender, inflation, mortgage applications, mortgage bankers association, Multifamily Mission, NAHB, private money, real estate investing, the norris group, trust deeds, Weekly Mortgage Applications Survey, Wells Fargo Housing Market Index