California Real Estate Headline Roundup

Posts Tagged ‘Deutsche Bank’

By Bruce Norris .

Despite Positive Forecast, Whether Housing Starts Will Return to Pre-Recession Levels is Still Unknown

Friday, June 19th, 2015

 

 

 

Sources:

Foreclosure activity hits 19-month high on rise in REOs
Number of Properties With Equity Is Rising While Total of Underwater Homes Declines

 

Today’s News Synopsis:

 

In this week’s video Aaron Norris gives the news of the week in the world of real estate.  More investors are looking to Cuba for future investment opportunities with the impending lifting of embargo.  The recent news story that plans for changes to the  TILA-RESPA Integrated Disclosure have been met with positive feedback.  Despite forecasts for housing starts being they will increase by almost 40%, it is still unknown if they will return to pre-recession levels.

 

In The News:

DS News - “Five Takeaways from Treasury Secretary Jack Lew’s Testimony Before Congress” (6-19-15)

“During his testimony this week before the full House Financial Services Committee, U.S. Department of Treasury Secretary Jack Lew stated when asked about GSEs and the conservatorship that the system should be restructured, but the time was not right for the conservatorship to end.”

Housing Wire- “CUNA discovers discrepancy in CFPB’s TRID rule, seeks answers” (6-19-15)

“The Credit Union National Association asked the Consumer Financial Protection Bureau to clarify a discrepancy and to exempt credit unions that make five or fewer mortgages in a calendar year from the Know Before You Owe rule, which includes the TILA-RESPA Integrated Disclosures in a letter Friday.”

Mortgage Professional America - “‘Friendship’ threatens key housing markets” (6-19-15)

“Cuba is becoming a hot market for investors as an embargo against U.S. investment could be lifted soon, opening up opportunities for the first time in more than 50 years, according to an Akerman U.S. Real Estate Survey.”

Bloomberg - “Goldman, Deutsche Bank Said to Compete for $4.8 Billion of Loans” (6-19-15)

“Goldman Sachs Group Inc. and Deutsche Bank AG are competing to buy Irish real estate loans with a face value of 4.2 billion euros ($4.8 billion) from Lloyds Banking Group Plc, according to people with knowledge of the matter.”

Housing Wire- “Aggregate market value of housing nearing 4Q06 peak” (6-19-15)

“The aggregate market value of owner-occupied housing hit its high point in the last part of 2006, reaching a high-watermark of $22.5 trillion.  Breaking that down, first lien mortgage and home equity loan debt outstanding equaled $9.9 trillion (44%) and homeowner equity equaled $12.6 trillion (56%).”

DS News - “Mortgage Industry Welcomes CFPB’s Proposed TRID Delay” (6-19-15)

“Taking the industry by surprise, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced on Wednesday that a proposal has been released to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule. The proposal is requesting that the TRID rule be postponed until October 1, 2015 due to an administrative error. The rule was originally set to go into effect on August 1, 2015.”

Mortgage Professional America - “Huge opportunity for small originators” (6-19-15)

“Smaller lenders are enjoying a better recovery following the housing market downturn than their big bank counterparts, and industry players are pointing to a number of reasons for the phenomena.”

Housing Wire - “Will homebuilding ever return to the highs of 2006?” (6-19-15)

“While Capital Economics is forecasting housing starts to surge by almost 40% over the next few years, reaching 1.5 million by the end of 2017, they’re not so sure the industry will see a return to pre-recession 2006 levels.”

Bruce Norris of The Norris Group will be speaking at Discover How to Create A $100,000 Payday Per Deal in 2015 – LAREIC on Tuesday, July 14.

Bruce Norris of The Norris Group will be having its Property Buying Bootcamp Tuesday, July 21 to Thursday, July 23.

Bruce Norris of The Norris Group will be presenting the 8th annual I Survived Real Estate 2015 on Friday, October 16.

 

Looking Back:

It was expected that new and existing home sales would decrease 4.1% to 5.28 million homes this year, the first drop in four years.  Housing continued to remain affordable despite an increase in home prices.  Richard Cordray of the CFPB appeared before the House Financial Services Committee to answer several questions regarding everything from discrimination allegations and concerns about accountability.

Copyright: Image from www.flickr.com/photos/concrete_forms/

 

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.

 

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Almost 10% of Adults in America have no History of Credit According to Latest CFPB Report

Tuesday, May 5th, 2015

 

 

Today’s News Synopsis:

Almost 26 million, 0r 10%, of adults in America have no history of credit according to the latest report from the CFPB.  Freddie Mac reported their profit in the first quarter was $524 million, way up from $227 million in the fourth quarter of 2014.  Home prices increased 5.9% annually according to CoreLogic.

 

In The News:

DS News - “CFPB Report Finds 26 Million American Adults Have No Credit History” (5-5-15)

“A report titled “Data Point: Credit Invisibles” published Tuesday by the Consumer Financial Protection Bureau (CFPB) Office of Research found that 26 million American adults (about 10 percent) do not have a credit history with any of the three nationwide consumer reporting agencies, termed as “credit invisible” by the Bureau’s director.”

Bloomberg - “Pickup in Service Industries Points to U.S. Growth Rebound” (5-5-15)

“The biggest part of the U.S. economy awoke from its first-quarter torpor as service industries from real estate to transportation and banking picked up in April.  The Institute for Supply Management’s non-manufacturing index rose to 57.8, the highest since November, from 56.5 in March, the Tempe, Arizona-based group’s report showed Tuesday. Readings above 50 signal expansion.”

Housing Wire - “CoreLogic: Homes prices rose in March up 5.9% annually” (5-5-15)

“Home prices nationwide, including distressed sales, increased by 5.9% in March 2015 compared with March 2014, according to the latest home price index from CoreLogic (CLGX).”

DS News - “Morgan Stanley Says It Might Settle MBS Suit With Deutsche Bank for $292 Million” (5-5-15)

“Morgan Stanley reported in its quarterly filing that it might take a $292 million loss as a result of a potential settlement with Deutsche Bank over the misrepresentation of mortgage-backed securities.”

Mortgage Professional America - “Daily Market Update: Low income families can’t afford even the least expensive homes” (5-5-15)

“A new report from Zillow reveals that home ownership for America’s lowest-income families is worsening. The study shows that the least affluent third of families cannot afford even the least expensive homes as wages have failed to increase despite economic growth.”

Housing Wire“Moody’s: Stopping eminent domain seizures of underwater mortgages a credit positive” (5-5-15)

“The House of Representatives’ Appropriations Subcommittee approved a bill last week for Transportation, Housing and Urban Development appropriations for the fiscal year ending 30 September 2016.”

DS News - “Senator Seeks to Permanently Extend Foreclosure Protection for Servicemembers” (5-5-15)

“U.S. Senator Sheldon Whitehouse (D-Rhode Island) has announced legislation that would permanently protect servicemembers and their families from losing their homes to foreclosure, according to a release on Whitehouse’s website.”

Housing Wire - “Freddie Mac reports profit of $524M in first quarter” (5-5-15)

“Freddie Mac reported net income of $524 million for the first quarter of 2015, compared to $227 million for the fourth quarter of 2014.  The company also reported comprehensive income of $746 million for the first quarter of 2015, compared to $251 million for the fourth quarter of 2014.”

 

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $135,000 on a 4 bedroom, 1 bathroom home appraised for $203,000.

San Bernardino Hard Money Loan closed by the Norris Group

 

California Real Estate Investor Events

Bruce Norris of The Norris Group will be holding his Norris Group Property Buying Bootcamp Tuesday, May 5 through Thursday, May 7

Bruce Norris of The Norris Group will be speaking at the IVAOR Real Estate Market Update on Wednesday, May 6.

Bruce Norris of The Norris Group will be speaking at the AOA “Million Dollar” Trade Show and Landlording Conference 2015 on Thursday, May 14.

 

Looking Back:

Fannie Mae’s Book of Business decreased 2.2% in the first quarter and ended it at -1.8%.  The Wells Fargo Economics Group reported that personal income increased by .5%, up from .1% the previous month and continuing to remain strong.  Over the following weeks, the Justice Department was expected to press charges against several big banks for various charges.

 

Copyright: Image from www.flickr.com/photos/jakerust/

 

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.


 

Housing Market in Best Shape in 14 Years According to Nationwide Insurance

Wednesday, April 1st, 2015

 

 

Today’s News Synopsis:

Nationwide Insurance in Ohio reported the housing market it is at its best in 14 years.  Obama said in his latest address to the mortgage industry that things have gotten a little out of control with the CFPB and they are carrying out things they were not originally created to do.  Predictions that the single-family rental asset class would grow over time are coming to light as more rental securitizations for this class are becoming available.

In The News:

Bloomberg“U.S. Stocks Decline Amid Weaker-Than-Forecast Jobs, Factory Data” (3-31-15)

“U.S. stocks fell, after a ninth straight quarterly gain, as weaker-than-estimated data on hiring and manufacturing reinforced concern that economic growth may be slowing.”

Housing Wire - “Mortgage lending continues seismic shift from large banks to nonbanks” (4-1-15)

“A new study released by the American Enterprise Institute’s International Center on Housing Risk found that the seismic shift in home purchase loan originations away from large banks to nonbanks continued in February, and the mortgage risk is increasing.”

Mortgage Professional America - “Report: Housing market in best shape since 2001″ (4-1-15)

“A report by Ohio-based Nationwide Insurance concluded that the U.S. housing market is in its best shape since 2001 and talks of a bubble are unfounded.  The Leading Index of Healthy Housing Markets ranks markets using data on employment, mortgages and demographics with anything over 100 showing strength and the United States is currently it is at 109.8.”

Mortgage Bankers Association - “MBA Welcomes 16 New Members” (4-1-15)

“Today, the Mortgage Bankers Association (MBA) announced that in February it welcomed 16 new regular members to its ranks, which currently numbers more than 2,200 member companies.”

DS News“Court Dismisses New York AG’s Lawsuit Against HSBC for Letting Foreclosures Languish” (4-1-15)

“A New York court has dismissed a lawsuit filed by the state’s attorney general against HSBC Mortgage Corporation nearly two years ago which alleged that HSBC failed to follow the state law related to foreclosure actions.”

Realty Trac“Fannie Mae & Freddie Mac: Too Profitable To Dump?” (4-1-15)

“Fannie Mae and Freddie Mac are back in the news, in large measure for the crime of being too profitable and raising a very uncomfortable question: When will shareholders get back their companies?.”

Housing Wire“Multi-borrower single-family rental securitizations officially arrive” (4-1-15)

“It appears that a new asset class is quickly developing, borne out of the single-family rental asset class, which itself is less than two years old.  Speaking at a panel at ABS East in September 2014, Ryan Stark, managing director at Deutsche Bank, predicated that the single-family rental asset class would morph over time, with several forms of securitizations made available for investors.”

Mortgage Professional America - “Daily Market Update: Obama says creating CFPB wasn’t intentional” (4-1-15)

“n a heartfelt speech to the mortgage industry, U.S. President Barack Obama admitted that the Consumer Financial Protection Bureau (CFPB), which he created in the aftermath of the financial crisis, has gone too far.”

Bruce Norris of The Norris Group will be speaking at the 2015 Women in DS Conference from Sunday-Tuesday, May 3-5.

Bruce Norris of The Norris Group will be holding his Norris Group Property Buying Bootcamp Tuesday, May 5 through Thursday, May 7

Bruce Norris of The Norris Group will be speaking at the IVAOR Real Estate Market Update on Wednesday, May 6.

 

Looking Back:

Spending on residential construction continued to remain low, having increased by only 0.1% month-over-month in February.  At the same time, home prices increased in February by 12.22% year-over-year.  A new rule regarding mortgage disclosure was established by the CFPB in order for their loan disclosures to be in line with the Truth in Lending Act.

 

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.

Copyright: Image from www.flickr.com/photos/tomsaint/

 


 

The Norris Group Real Estate News Roundup 2/4/14

Tuesday, February 4th, 2014


Today’s News Synopsis:

Janet Yellen was officially sworn in yesterday as the new chair of the Federal Reserve.  According to the latest Home Price Index from CoreLogic, home prices increased 11% year-over-year in December.  The biggest concern among homeowners today is whether or not financing will be available as well as how much inventory will be on hand.

In The News:

NAHB“Builder Confidence in the 55+ Housing Market Ends Fourth Quarter on a Record High” (2-3-14)

“Builder confidence in the 55+ housing market for the fourth quarter of 2013 is up sharply, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI) released today. All segments of the market—single-family homes, condominiums and multifamily rental—registered strong increases compared to the same quarter a year ago.”

DS News - “Current Home Sellers Concerned About Financing Availability, Inventory” (2-4-14)

“While homeowners are feeling more confident about the prospect of selling their homes, they do harbor concerns regarding the availability of home financing and the low inventory available for their next purchases, according to the Redfin Real-Time Seller Survey released Tuesday.”

Housing Wire“Where are lenders driving mortgage traffic?” (2-4-14)

“Lending standards have shifted over the past three months following the recent implementation of the Consumer Financial Protection Bureau Qualified Mortgage rule, according to the Federal Reserve Senior January Loan Officer Opinion Survey on Bank Lending Practices.”

Inman - “Visits to real estate websites surge 25 percent from December to January” (2-4-14)

“Homes.com, Apartment Guide and Rent.com all moved up in Experian Marketing Services’ rankings of top real estate websites in January, surging past MSN Real Estate.”

CNN Money - “Senate deal would extend jobless benefits” (2-4-14)

“A bipartisan deal has emerged that may extend federal jobless benefits for more than a million unemployed Americans.”

Bloomberg - “Ex-Deutsche Bank Trader Dixon Said to Plan $200 Million Fund” (2-4-14)

“Former Deutsche Bank AG mortgage-bond trader Troy Dixon’s new investment firm is projecting its first hedge fund will start in July with $200 million of capital.”

Mortgage Professional America - “Yellen sworn in as Fed chair” (2-4-14)

“Janet Yellen was sworn in Monday as the chair of the Federal Reserve. She is the first woman to head the agency.”

DS News“December Home Prices Up 11% from 2012″ (2-4-14)

“CoreLogic released its Home Price Index (HPI) for December 2013, noting an 11 percent bump since December 2012. The figure includes distressed sales.”

CNN Money - “Deficit continues to drop sharply – CBO” (2-4-14)

“The age of trillion-dollar deficits is well over.  For now.  Thanks to a recovering economy, spending restraint and higher tax receipts, the Congressional Budget Office now projects the deficit for 2014 will be $514 billion, or 3% of the size of the U.S. economy.”

Housing Wire- “Tip 9 cities for flipping houses” (2-4-14)

“Investors gobbled up 156,862 single family homes and flipped them in 2013, up 16% from 2012 and up 114% from 2011, according to RealtyTrac.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $122,000 on a 3 bedroom, 2 bathroom home appraised for $190,000.

 

Bruce Norris of The Norris Group will be presenting his Norris Group Property Buying Boot Camp in Riverside Tuesday through Thursday, February 4-6, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with OC FIBI TODAY.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with OCREIA on Thursday, March 13, 2014.

Looking Back:

Today was a big news day for the multifamily market.  $33.8 billion was provided to the multifamily sector by Fannie Mae the previous year.  The Mortgage Bankers Association reported mortgage originations for the multifamily market increased 49% throughout the previous year, and they predicted they would continue to grow 11% to $254 billion in the current year.

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.

The Norris Group Real Estate News Roundup 12/20/13

Friday, December 20th, 2013

Sources:

FDIC Shutters Texas Bank
Builder Confidence Rises Four Points in December


Today’s News Synopsis:

Aaron Norris gives the news of the week in this week’s real estate headline roundup video.  The increase in mortgage rates is leading to an increase in affordability.  The GDP increased to 4.1% from 3.6% in the third quarter, its highest growth in two years.

In The News:

DS News- “Ocwen to Pay $2B for Servicing Violations” (12-20-13)

“Ocwen Loan Servicing must provide $2 billion in principal reductions to underwater borrowers and refund $125 million to nearly 185,000 borrowers who were foreclosed on, federal officials announced Thursday.”

Housing Wire- “FHFA announces $1.9B settlement with Deutsche Bank” (12-20-13)

“The Federal Housing Finance Agency inked a $1.9 billion settlement with Deutsche Bank (DB) Friday, settling claims related to alleged violations of federal and state securities laws.”

Mortgage Professional America - “Affordability falling as rates rise” (12-20-13)

“Rising mortgage rates are challenging housing affordability as the year draws to a close, according to data released Thursday by Freddie Mac.”

Inman- “Montclair, N.J. ‘Russian spy house’ in escrow after big price reduction” (12-20-13)

“It’s no secret that the stigma around homes where notorious crimes were committed can dent their resale value.  But what if a home in the suburbs was merely lived in by a couple accused of being Russian spies?”

Bloomberg - “LPS in Robo-Signing Settlement Talks Said to Exceed $200 Million” (12-20-13)

“Lender Processing Services Inc. (LPS) is in talks with regulators that could lead to a settlement of more than $200 million over improper and fraudulent foreclosure paperwork after the 2008 credit crisis, according to people briefed on the discussions.”

Housing Wire- “Final GDP for 3Q Shows 4.1% growth” (12-20-13)

“Real gross domestic product (GDP) climbed from 3.6% to 4.1% in the third quarter of 2013, the highest it has achieved in two years, according to Friday’s report from the Bureau of Economic Analysis.”

Hard Money Loan Closed

Desert Hot Springs, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $87,000 on a 3 bedroom, 2 bathroom home appraised for $127,500.

 

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association on Thursday, January 9, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with Coachella Valley on Tuesday, January 14, 2014.

Bruce Norris of The Norris Group will be presenting his newest talk Secrets to Becoming Wealthy with the Apartment Owners Association in Buena Park on Thursday, January 16, 2014.

Looking Back:

The California Homeowner Bill of Rights was expected to go into effect the first of the year.  Both home prices and existing home sales showed improvement the previous month with sales increasing 5.9% and prices increasing 0.5%.  Home values also increased for the first time in six years.

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.

The Norris Group Real Estate News Roundup 11/15/13

Friday, November 15th, 2013

 

Today’s News Synopsis:

Aaron Norris gives the news of the week in this week’s real estate headline roundup video.  HOPE NOW reported foreclosure starts decreased 42% in the third quarter, leading to fewer distressed borrowers receiving loan modifications.  Despite the economy showing positive signs, especially in home prices, issues such as eminent domain still remain a roadblock to full recovery.


In The News:

Housing Wire“Eminent domain remains minor headwind as housing recovers” (11-15-13)

“The housing market is poised for tremendous growth in 2014, witnessing positive momentum in home prices.”

CNN Money - “Forbes explores sale” (11-15-13)

“Forbes Media, the family-owned business magazine publisher, has hired Deutsche Bank to explore a possible sale of the company.”

Housing Wire“CFPB issues enforcement order against Republic Mortgage Insurance Corp.” (11-15-13)

Republic Mortgage Insurance Corp. (RMIC), a unit of Old Republic International (ORI), faces a complaint and enforcement action from the Consumer Financial Protection Bureau in which the regulator accuses the insurer of paying kickbacks to mortgage lenders in exchange for insurance business.”

Mortgage Professional America“Industry group to CFPB: Delay QM, disclosure rules” (11-15-13)

“A new mortgage rule scheduled for implementation in January should be delayed for a year to study the harm it might cause consumers and originators, according to an industry head.”

Inman“LoanLogics, mortgage tech startup, raises $11.2 million from Volition Capital and existing investors” (11-15-13)

“LoanLogics, a mortgage technology company that launched in May, has raised $11.2 million in funding from Boston-based growth equity firm Volition Capital and existing investors.”

Housing Wire“Foreclosure starts fall 42%: Hope Now” (11-15-13)

“The number of distressed borrowers receiving loan modifications and short sales declined in the third quarter as foreclosure starts continued to fall, suggesting a new equilibrium has been reached in the housing market.”

DS News“Clayton Holdings Announces New VP of Regulatory Compliance” (11-15-13)

“Clayton Holdings, LLC, a provider of loan due diligence, surveillance, and consulting services to the mortgage industry, announced the addition of Scott McNulla to its executive team. McNulla has joined the company as VP of regulatory compliance.”

Mortgage Professional America - “Housing affordability continues to slide” (11-15-13)

“Housing affordability continued to decline in the third quarter, spurred by rising interest rates and increased prices.”

Hard Money Loan Closed

Corona, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $395,000 on a 5 bedroom, 4.5 bathroom home appraised for $570,000.

 

 

Looking Back:

Mortgage rates were at new record lows again with 30-year rates at 3.34% and 15-year rates at 2.65%.  Mortgage delinquency rates also decreased to 7.4% as well as foreclosure rates decreased six basis points to 0.9%.  Housing affordability improved across the nation in the third quarter at 74.1%.

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.

The Norris Group Real Estate News Roundup 10/30/13

Wednesday, October 30th, 2013

Today’s News Synopsis:

The second quarter saw an increase in home prices in almost 90% of the large metropolitan areas in the United States.  Mortgage applications increased 6.4% from last week according to the Mortgage Bankers Association.  Over $17 billion has been collected by the government from banks paying for their mistakes.


In The News:

Housing Wire - “CoreLogic: Home prices rose in nearly 90% of US metros in 2Q”  (10-30-13)

“Home price reports released this week show solid home price appreciation throughout the summer, but those numbers are expected to subside a bit as the market moderates on economic uncertainty.”

Mortgage Bankers Association“Mortgage Applications Increase in Latest MBA Weekly Survey” (10-30-13)

“Mortgage applications increased 6.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 25, 2013.”

Bloomberg- “Deutsche Bank Said to Market $479 Million of Rental Bonds” (10-30-13)

“Deutsche Bank AG (DB) is marketing $479.1 million of bonds backed by mortgages on 3,207 single-family rental homes owned by Blackstone (BX) Group LP, according to two people with knowledge of the offering.”

CNN Money“Banks fork over $17 billion for misdeeds in 2013″ (10-30-13)

The government is going hard after misbehaving banks, collecting billions of dollars more in fines this year than it did last year.”

Housing Wire - “State AGs ask Supreme Court to keep disparate impact alive” (10-30-13)

“A recent lending discrimination case settled in Massachusetts illustrates why state attorneys general are pushing to keep the legal theory of ‘disparate impact’ alive as they pursue Fair Housing Act discrimination claims.”

DS News“Fed’s Bond-Buying Program Maintains Pace with 11-1 Vote” (10-30-13)

“Analysts holding out for a sign that the Federal Reserve may soon taper its asset purchasing program will have to continue waiting: The Fed released on Wednesday the latest Federal Open Market Committee (FOMC) statement, revealing a generally cautious attitude among members as the economy struggles against headwinds.”

Housing Wire- “Foreclosures rescue scheme complaints more than doubled” (10-30-13)

“Foreclosure rescue schemes have more than doubled since 2010, according to data collected by federal regulatory agencies.”

Mortgage Professional America“Households spending least on mortgages in at least three decades” (10-30-13)

“Mortgage payments are costing households a smaller proportion of their income than at any time in at least 33 years.”

 

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $365,000 on a 3 bedroom, 2 bathroom home appraised for $584,000.

 

Bruce Norris will be speaking at the Anaheim REI Expo on Sunday, November 3, 2013.

Looking Back:

According to the latest S&P/Case-Shiller Index, home prices increased in August for the fifth consecutive month.  At the same time, home vacancies decreased the previous quarter according to the Census Bureau.  Rented homes decreased to 8.6%, and owner-occupied homes decreased to 1.9%.  30 year mortgage rates increased again by 2 basis points to 3.76% in September.

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.

The Norris Group Real Estate News Roundup 4/25/13

Thursday, April 25th, 2013


Today’s News Synopsis:

Mortgage rates decreased again for the fourth week with 30-year rates now at 3.4% and 15-year at 2.61%, a new low.  Unemployment claims decreased by 16,000 to 339,000, putting them at their lowest in five years.  The NAHB is seeking help from Congress to maintain support for important housing incentives.

In The News:

Housing Wire - “Unconventional servicing platforms entice investors, hurdles remain” (4-25-13)

“Nonbank mortgage servicers are increasingly using securitization to access the capital needed to fund purchases of servicing assets, increasing both the size and complexity of servicer advance transactions, Standard & Poor’s said in its latest report.”

Bloomberg“U.S. Mortgage Rates Fall With 15-Year at Lowest on Record” (4-25-13)

“Mortgage rates in the U.S. fell for a fourth week, with the 15-year average hitting a record low, helping to strengthen the housing recovery.”

Mortgage Bankers Association“MBA and EverFi Providing Financial Literacy Education to 10,000 American Consumers” (4-25-13)

“The Mortgage Bankers Association (MBA) today announced that the initial stage of its partnership with EverFi, the nation’s leading education technology company, will provide interactive, web-based financial literacy education to more than 10,000 Americans across the United States as part of the Association’s Financial Fitness USA program.”

DS News - “Zillow: Home Price Growth Moderates in Q1″ (4-25-13)

“After “months of robust and largely unsustainable annual home value appreciation,” the national housing market finally showed signs of moderation in this year’s first quarter, Zillow reported Thursday.”

NAHB - “Remodeler Confidence Dips in First Quarter 2013″ (4-25-13)

“Remodelers’ confidence in the market dipped in the first quarter of 2013 when the Remodeling Market Index (RMI) fell six points to 49, according to the National Association of Home Builders (NAHB).”

Bloomberg - “Deutsche Bank Must Face Los Angeles Slumlord Claim Suit” (4-25-13)

“Deutsche Bank AG (DBK) must face a lawsuit by Los Angeles claiming the bank let foreclosed properties in low-income neighborhoods fall into disrepair and illegally evicted tenants to sell foreclosed buildings.”

DS News - “First-Time Jobless Claims Drop, Continuing Claims at 5-Year Low” (4-25-13)

“First-time claims for unemployment insurance dropped for only the second time in the last six weeks, falling 16,000 to 339,000 for the week ending April 20, the Labor Department reported Thursday.”

Housing Wire - “NAHB calls on Congress to support housing tax incentives” (4-25-13)

“The National Association of Home Builders called on Congress Thursday to maintain its support for vital housing incentives in order to meet the nation’s growing need for affordable rental housing and homeownership opportunities.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $700,000 on a 3 bedroom, 2 bathroom home appraised for $110,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Looking Back:

Today was a big day for mortgages.  The Mortgage Bankers Association reported a decrease in mortgage applications by 3.8% even though rates continued to stay low.  Freddie Mac’s mortgage portfolio also showed a decrease of 2.9%.  Realty Times believed troubles in Europe were one of the things keeping mortgage rates steady.

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.

The Norris Group Real Estate News Roundup 4/19/13

Friday, April 19th, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The amount of homes flipped in California increased by almost three times the amount from last year and are now at their highest level since September 2005.  According to a recent announcement by the OCC, the second wave of foreclosure checks was sent out last week.

In The News:

Housing Wire - “The gap between large and small homebuilders widens” (4-19-13)

“The 14% increase in land values during the first three quarters of 2012 was four times greater than the rise in house prices, Capital Economics said in a new report.”

CNN Money - “Inflation is very, very low. Time to worry?” (4-19-13)

“Prices aren’t going up very much. Should we celebrate?  Not really. Inflation that’s too low could be a bad sign for the U.S. economy, and some Federal Reserve officials are starting to get concerned.”

DS News“California Flipping Activity at Highest Level Since 2005″ (4-19-13)

“Real estate sales have been weakening in California, but ForeclosureRadar found flipping activity in the state reached its highest level since September 2005.”

Bloomberg“Deutsche Bank Loan Signals Rental Home Bond Dreams” (4-19-13)

“Deutsche Bank AG (DBK) is moving closer to turning U.S. rental home payments into bonds, which would be one of the first new types of securitization since the 2008 credit crisis, and pave the way for an infusion of capital.”

Realty Times - “Welcome Back Vacation Homes” (4-19-13)

“Vacation home sales improved in 2012 by 10 percent and the outlook for second-home sales continues to look good because of favorable conditions, according to the National Association of Realtors.”

Housing Wire - “FDIC sues Florida law firm over failed bank” (4-19-13)

“Several law firms in Florida became the center of an intense attorney generals investigation after the financial crisis for their handling of foreclosures.”

Inman - “Census Bureau infographic shines light on home investment” (4-19-13)

“The Census Bureau has released an infographic that illustrates the level of commitment among many homeowners to improving their homes, highlighting some of the most common-remodeling projects and tallying up $359 billion in total investments from 2009 through 2011.”

DS News - “Second Wave of 1.4M Foreclosure Review Checks Sent” (4-19-13)

“The Office of the Comptroller of the Currency (OCC) announced the second wave of payments resulting from the foreclosure settlement with federal regulators and 13 servicers was sent Friday.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $440,000 on a 2 bedroom, 2 bathroom home appraised for $71,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with Chino Valley Real Estate on Friday, May 17, 2013.

Looking Back:

Claims for unemployment decreased by 2,000 with claims being at 386,000 compared to 388,000 the week prior.  Existing home sales also decreased 2.6% the previous month for the third time in the previous four months.  Mortgage rates increased to 3.9% at this time last year, the first time in four weeks mortgage rates saw an increase.

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.

The Norris Group Real Estate News Roundup 12/05/12

Wednesday, December 5th, 2012

Today’s News Synopsis:

According to the latest MBA Weekly Mortgage Applications Survey, mortgage applications increased 4.5% from last week.  Foreclosure starts decreased 21.9% in October as a result the National Mortgage Settlement.  It is expected Freddie Mac will be demanded repurchases on mortgage loans from 2004 and 2005.

In The News:

Realty Times- “Consumers Sign More Purchase Contracts While Mortgage Rates Remain Low” (12-5-12)

“The promising news about the housing market is that it is moving ahead in the right direction, even after the busy summer period has ended.”

Housing Wire- “LPS: Foreclosure starts drop 21.9% on mortgage servicing settlement” (12-5-12)

“The National Mortgage Settlement and provisions it outlined for mortgage servicers may have accounted for a steep 21.9% drop in foreclosure starts in October, according to Lender Processing Services Mortgage Monitor.”

Mortgage Bankers Association- “Mortgage Applications Increase in Latest MBA Weekly Survey” (12-5-12)

“Mortgage applications increased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 30, 2012.  Last week’s results included an adjustment for the Thanksgiving holiday.”

DS News- “Sources Reveal Freddie Mac Will Demand Buybacks on Older Mortgages” (12-5-12)

“Freddie Mac will ramp up repurchase demands with intentions to begin demanding putbacks on mortgage loans made in 2004 and 2005, according to statements made by U.S. Bancorp CEO Richard Davis at the Goldman Sachs Financial Services conference and reported on the Dow Jones Newswires.”

Bloomberg“Mortgage-Bond Issuance in U.S. More Than Triples to $7.4 Billion” (12-5-12)

“Issuance of U.S. home-loan bonds without government backing has more than tripled this year to $7.4 billion, according to Deutsche Bank AG, as debt created before the housing slump rallies.”

Realty Times- “Fiscal Cliff to Stall Otherwise Healthy Housing Recovery” (12-5-12)

“The strongest housing market since the peak of the housing boom is expected to pick up steam, but could be stalled by the so-called ‘fiscal cliff’.”

Housing Wire- “Citi mortgage portfolio loss reserves remain intact” (12-5-12)

“While selling of delinquent mortgages slowed in the second half of 2011 and 2012 for Citigroup ($36.96 2.67%), overall mortgage sales picked up in the third quarter of this year, reflecting the markets more constructive outlook of sustainability for the housing recovery, according to chief financial officer John Gerspach of the bank.”

Mortgage Bankers Association- “MBA White Paper Examines Future Role of the GSEs in Multifamily Housing Finance” (12-5-12)

“The Mortgage Bankers Association (MBA) released a white paper today that underscores the importance of multifamily rental housing and examines the role of the Government Sponsored Enterprises (Fannie Mae and Freddie Mac, or “the GSEs”) in multifamily housing finance going forward.”

CNN Money- “There’s a home price recovery… but it’s really, really slow” (12-5-12)

“Nearly two-thirds of the nation’s housing markets will see price declines for the year through next June, according to analytics firm Fiserv (FISV).  Overall, the gains will be just 0.3%.”

Hard Money Loan Closed

Lake Elsinore, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $86,000 on a 2 bedroom, 1 bathroom home appraised for $135,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Scottish Rite Center in San Diego on Tuesday, December 11, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IRCA Los Angeles on Wednesday, January 2, 2012.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at Coachella Valley on Tuesday, January 8, 2012.

Looking Back:

According to the FHA and the latest Case-Shiller Index, home prices decreased for the third quarter.  In other news, Housing Wire reported a downgrade in JPMorgan Chase commercial mortgage securities by Fitch Ratings.  Recent data released by the Labor Department showed unemployment benefits in the last four years cost $434 billion.

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.