Today’s News Synopsis:
In The News:
Mortgage Professional America – “Important real estate bill passes” (2-9-16)
“Originator clients may soon have an easier time qualifying for condo units. Bill H.R. 3700, Housing Opportunity Through Modernization Act of 2015, has passed house and will be put before the senate.”
Housing Wire – “CoreLogic: Foreclosures fall to lowest level since 2006” (2-9-16)
“In another sign that the recovery from the housing crisis is ongoing rather than stalled out, the total number of completed foreclosures in 2015 was the lowest number of completed foreclosures in any year since 2006, a new report from CoreLogic shows.”
Bloomberg – “These Are the Things That Correlate With the Fed’s ‘Easy Money'” (2-9-16)
“Faced with the most severe economic downturn since the Great Depression, the U.S. Federal Reserve did the only thing it could: flood the financial system with liquidity.”
DS New – “ValuAmerica Integrates with FHA’s Electronic Appraisal Delivery Portal” (2-9-16)
“National title agency, appraisal management company (AMC) and technology provider ValuAmerica announced that it is now integrated with the Federal Housing Administration (FHA)’s Electronic Appraisal Delivery (EAD), a Web-based technology system that enables FHA-approved lenders and their third-party service providers to transmit appraisal data and reports to FHA prior to loan endorsement.”
Mortgage Professional America – “Grand Rapids home prices grow by 33%” (2-9-16)
“Results from a recent Forbes.com study revealed that home prices in Grand Rapids, Michigan have grown by 33% in the past three years in response to a robust economy and strong per-capita purchasing power.”
DS News – “OCC Removes Servicing Restrictions from U.S. Bank, Santander-For a Price” (2-9-16)
“The Office of the Comptroller of the Currency has terminated mortgage-servicing related enforcement actions against U.S. Bank and Santander, the agency announced Tuesday.”
Mortgage Professional America – “Morning Briefing: Confidence in housing market slips as income stalls” (2-9-16)
“The slower pace of income growth compared to house price appreciation is of growing concern to home buyers and this has been reflected in new figures from Fannie Mae.”
Hard Money Loan Closed
San Bernardino, California hard money loan closed. Real estate investor received loan for $127,000 on this single family property appraised for $196,000.
Bruce Norris will be presenting his Norris Group Property-Buying Boot Camp in Riverside on February 9-11.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with NORCALREIA on Wednesday, March 9.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with OCREIA on Thursday, March 10.
Image copyright source: www.flickr.com/photos/22711505@N05
Consumer optimism showed signs of improvement according to the latest Fannie Mae Housing Survey, with 67% saying it was a good time to buy and 44% saying it was a good time to sell. Julián Castro, secretary of HUD, testified before the House Financial Services Committee on Wednesday regarding the FHA budget and their lowering of mortgage insurance premiums. Former Congressman Barney Frank spoke at the ABS Vegas 2015 conference to discuss housing policies, risk retention, and mortgage lending.
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.