Today’s News Synopsis:
In The News:
Mortgage Bankers Association – “Real Estate Finance and Housing Industry Join Together and Donate Over $735,000 to Families in Need” (10-27-15)
“Mortgage Bankers Association Opens Doors Foundation (MBA Opens Doors) today announced that it has secured more than $735,000 in pledged donations at, or associated with, MBA’s 2015 Annual Convention.”
Mortgage Professional America – “Originators clients in these cities have it good” (10-27-15)
“Brokers in Detroit likely feel vindicated now that the hard-hit city has earned the honour of being one of the country’s best cities in which to build wealth.”
Housing Wire – “Homeownership rate rises for first time in 2 years” (10-27-15)
“After dropping to the lowest level in 48 years in the last quarter, the homeownership rate in the United States increased during the third quarter, according to data from the Department of Commerce and the Census Bureau.”
DS News – “HUD Secretary Castro Emphasizes Importance of Millennials to Housing Market” (10-27-15)
“HUD Secretary Julián Castro, whose name has been bantered for months as a possible vice presidential candidate, joined Realtor.com Chief Economist Jonathan Smoke in a conversation Monday evening about millennial housing held at George Washington University in Washington, D.C.”
Mortgage Bankers Association – “MBA Announces Policy Network Chairs for 2016” (10-27-15)
“The Mortgage Bankers Association (MBA) today announced new leaders for its Independent Mortgage Bankers Network and Community Banks and Credit Unions Network.”
Mortgage Professional America – “Morning Briefing: New home sales lower, existing sales rebound” (10-27-15)
“New home sales dropped 11.5 per cent in September to a seasonally-adjusted annual rate of 468,000 units according to new data from the US Census Bureau and HUD. However the National Association of Realtors reports that sales of existing homes rebounded in the month compared to August with a 4.7 per cent rise to a seasonally adjusted annual rate of 5.55 million.”
Housing Wire – “NYDFS superintendent to step down amid rumors of tension with Cuomo’s office” (10-27-15)
“The acting superintendent of the New York Department of Financial Services will step down later this year, amidst rumors of tension between the NYDFS and the office of New York Governor Andrew Cuomo.”
Bruce Norris will be speaking at the Cutting-Edge Financial Tactics Brunch on Saturday, November 7.
Bruce Norris will be speaking at the 2nd Annual TNG VIP Subsriber Brunch on Sunday, November 8.
Pending home sales increased only slightly by 0.3% the previous month, below expectations. Consumer optimism decreased in the third quarter by 17 percentage points for owners wishing to sell their homes. Investors were getting ready to trade the largest portfolio from this year comprised of pre-bust non-agency debt.
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.