Today’s News Synopsis:
The attorneys generals are expected to file the paperwork from the recent robo signing settlement by the end of this month according to Housing Wire. The credit ratings for six European countries was just downgraded by Moody’s Investor Services. In other news, the number of foreclosure sales is strong in every state on the West Coast save Washington.
In The News:
Realty Times – “HUD Provides $400 Million in Aid” (2-14-12)
“Many states across the nation saw more than their fair share of natural disasters in 2011. These disasters left entire regions struggling to recover. That’s why the U.S. Department of Housing and Urban Development (HUD) has allocated $400 million in aid to eight states which experienced Presidentially declared natural disaster zones.”
CNN Money – “Moody’s downgrades European countries” (2-14-12)
“Moody’s cut the credit ratings of six European countries on Monday amid continued anxiety over the continent’s debt crisis and its sluggish economy.”
NAHB – “Nation’s Home Builders Elect Leadership for 2012” (2-14-12)
“Members of the National Association of Home Builders (NAHB) elected four Senior Officers to top leadership positions within the federation during the association’s International Builders’ Show in Orlando.”
Housing Wire – “AGs weeks from filing foreclosure settlement documents” (2-14-12)
“The state attorneys general and federal prosecutors will likely file the actual $25 billion foreclosure settlement documents in court by the end of the month, according to a source familiar with the deal.”
Inman – “Zillow to feature Howard Hanna’s real estate listings” (2-14-12)
“Major online real estate search portal and marketplace Zillow and Northeast real estate brokerage heavyweight Howard Hanna Real Estate Services announced a marketing partnership Monday that will feature Howard Hanna listings atop search results in the Yahoo-Zillow Real Estate Network for searches in areas where Howard Hanna has listings.”
DS News – “Foreclosure Sales Up on for West Coast States Except Washington” (2-14-12)
“Foreclosure sales on the West Coast started strong for the year 2012, with Washington as the exception, according to ForeclosureRadar.”
Housing Wire – “House to scrutinize $448 million CFPB budget” (2-14-12)
“Consumer Financial Protection Bureau Director Richard Cordray will give his fourth testimony before Congress Wednesday since taking the post in mid-January.”
Bloomberg – “Wells Fargo’s Directors Ordered to Face Foreclosure Claims” (2-14-12)
“Directors of Wells Fargo & Co., the largest U.S. mortgage lender, must face investors’ claims the bank failed to properly disclose details of its foreclosure practices to government investigators, a judge ruled.”
Hard Money Loan Closed
Whittier, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $200,000 on a 3 bedroom, 1 bathroom home appraised for $328,000.
The Norris Group will be holding their monthly REO Boot Camp, February 14-16, 2012.
Bruce Norris of The Norris Group will be at the 2012 Kick Off Brunch on February 18, 2012.
Freddie Mac predicted ARMs would represent 10% of all mortgages issued by the end of the year. A national budget was propposed that would cut the federal deficit from 10% of the overall economy to 3% in a decade. Fannie Mae and Freddie Mac was concluded to cost $73 billion through 2021, according to the Treasury Department. Freddie Mac claimed mortgage rates were likely to remain in the low-to-mid 5% range throughout the rest of 2011.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.