California Real Estate Headline Roundup

Posts Tagged ‘Deutsche Bank’

By Bruce Norris .

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.

The Norris Group Real Estate News Roundup 11/28/12

Wednesday, November 28th, 2012

Today’s News Synopsis:

New home sales decreased 03% last month, but for the year they showed tremendous improvement at a 17.2% increase.  Fiserv reported they expect home prices to increase and continue increasing into 2017.  The Mortgage Bankers Association reported mortgage applications decreased 0.9% last week.

In The News:

Bloomberg- “Sales of New U.S. Homes Fell 0.3% in October” (11-28-12)

“Purchases of new U.S. homes unexpectedly declined in October, showing limited progress in the housing market recovery.”

Realty Times- “Housing Recovery Depends On Continuation of Low Mortgage Rates” (11-28-12)

“There are multiple aspects to the housing recovery that are taking place. While each individual sector of the industry is showing improvement, there is one common factor among all of them and that is the entire housing recovery depends on the continuation of low mortgage rates.”

Mortgage Bankers Associations“Mortgage Applications Decrease in Latest MBA Weekly Survey” (11-28-12)

“Mortgage applications decreased 0.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 23, 2012.  This week’s results include an adjustment for the Thanksgiving holiday.”

Inman- “New-home sales up 17.2 percent from a year ago” (11-28-12)

“Sales of new single-family homes dipped 0.3 percent from September to October but were up 17.2 percent from a year ago, the U.S. Census Bureau reported today.”

DS News- “Multifamily Sector Will Remain Tight Despite Slow Decline in Vacancies” (11-28-12)

“The multifamily sector may not see much of a decrease in its vacancy rate over the next year, but the market is still considered to be tight and there’s still room for growth, according to a report from National Association of Realtors (NAR).”

Realty Trac- “On the Road to Homeownership: Dealing With A Shortage of Supply” (11-28-12)

“All the signs are there that say to us “Buy Now!” Historically low interest rates hovering in the mid-3’s for a 30-year fixed rate mortgage, and the high-2’s for a 15-year fixed.”

DS News- “Fiserv Projects Home Price Growth into 2017 “ (11-28-12)

“The latest numbers from the Fiserv Case-Shiller Indexes show that the housing market may finally be on solid footing again.”

Bloomberg- “U.S. Said to Weigh Tightening Rules for Foreign Lenders” (11-28-12)

“U.S. units of foreign lenders including Deutsche Bank AG (DBK) may be required by regulators to comply with tougher capital rules that some banks sought to skirt, three people with knowledge of the discussions said.”

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $225,000 on a 2 bedroom, 1 bathroom home appraised for $435,000.

 

Bruce Norris of The Norris Group will be at the Investors Workshops at the Doubletree Hotel in Orange today.

Bruce Norris of The Norris Group will be at the NSDREI Holiday Christmas Party at the El Camino Country Club in Riverside on Sunday, December 2, 2012.

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.

Looking Back:

In a big news story, the sale of new homes in the U.S. increased 1.3% for the month of October 2011.  The number of problem banks on the FDIC list continued to decrease for the second straight quarter.  According to Housing Wire, the New York Federal Reserve reported a decline in mortgage debt in the third quarter 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.

The Norris Group Real Estate News Roundup 7/25/12

Wednesday, July 25th, 2012

Today’s News Synopsis:

New home sales decreased to 350,000 in June and are now at their lowest in five months.  Mortgage applications increased 0.9% from last week according to the Mortgage Bankers Association.  Senator Jef Merkley just submitted a plan to help underwater homeowners by having the government buy up to 8 million underwater mortgages and refinance them to decrease their rates.


In The News:

CNN Money“New-home sales slump” (7-25-12)

“New-home sales flopped in June, an indication that the housing market may take longer than expected to recover.”

Housing Wire“Senator unveils plan to refi 8 million underwater borrowers” (7-25-12)

Sen. Jeff Merkley, D-Ore., submitted a new plan Tuesday for the government to buy up to 8 million underwater mortgages and refinance them into lower rates.”

Mortgage Bankers Association“As Low Rate Environment Persists, Refinance Applications Reach Highest Level Since 2009 in Latest MBA Weekly Survey” (7-25-12)

“Mortgage applications increased 0.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 20, 2012.”

Bloomberg“Wells Fargo Ranks No. 1 in Hard-to-Value Assets, S&P Says ” (7-25-12)

“Wells Fargo & Co. (WFC), the largest U.S. home lender, ranked first among the six biggest U.S. commercial banks with the highest percentage of hard-to-value assets in its securities portfolio, Standard & Poor’s said.”

Housing Wire“Lawmakers press Geithner to release AIG escape plan” (7-25-12)

House Republicans pressed Treasury Secretary Timothy Geithner Tuesday to release a detailed plan to unwind remaining taxpayer exposure to American International Group ($30.25 -0.275%).”

DS News“LPS Releases June First-Look Delinquency Data “ (7-25-12)

“Lender Processing Services (LPS) released Wednesday its “first look” month-end mortgage performance data for June, revealing that the loan delinquency rate fell year-over-year.”

Bloomberg“TARP Funds for Housing Relief 90 Percent Unspent, Auditor Says” (7-25-12)

“Distressed homeowners have received only 10 percent of nearly $46 billion in federal aid since the money was allocated in 2009 under the Troubled Asset Relief Program, a U.S. auditor’s report said today.”

Housing Wire“Housing turnaround becomes tailwind for weak economy” (7-25-12)

“The housing market is converting into a tailwind for the broader economy as construction activity gains momentum at a double-digit pace and home prices finally rise, says Joseph LaVorgna, housing analyst at Deutsche Bank ($27.34 -0.83%).”

DS News“Barclays: Distressed Areas Leading Recovery” (7-25-12)

Data in Barclays’ newest Securitization Products Weekly suggests that distressed markets are outperforming others in home appreciation and paving the way for a broad-based housing recovery.”

Hard Money Loan Closed

Ontario, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $143,000 on a 3 bedroom, 2 bathroom home appraised for $235,000.

 

Bruce Norris of The Norris Group will be at the Inland Empire Investors Forum Tuesday, August 28, 2012.

Bruce Norris of The Norris Group will be at the Los Angeles Commercial Real Estate Forum Thursday, August 30, 2012.

Bruce Norris of The Norris Group will be at the Real Estate Investment Expo in Santa Clara Saturday, September 8, 2012.

Looking Back:

The Wall Street Journal reported that more foreclosed homes would be featured on reality television shows.  In other news, the Reality Times reported that the sale of existing homes fell the previous month, the Northeast being the lowest.  According to Housing Wire, some of the big banks showed improvement in the second quarter of 2011 with increased loans and bigger pre-provision earnings.

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 6/7/12

Thursday, June 7th, 2012

Today’s News Synopsis:

Mortgage rates decreased again for the sixth week in a row and are at their lowest on record at 3.67%.  Unemployment claims decreased to 377,000 from 389,000 for the week ended June 2.  With the economic recession at its worst since the Great Depression, more Americans are being cautious about leaving their jobs and starting new ones.  In addition, they are also wary about purchasing a new home.

In The News:

Bloomberg“Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.67%” (6-7-12)

“Mortgage rates in the U.S. dropped to record lows for a sixth straight week as concerns over slowing job growth pushed investors into the safety of government bonds that guide interest costs.”

DS News“Initial Jobless Claims in First Drop in Five Weeks” (6-7-12)

“First time claims for unemployment insurance fell to 377,000 for the week ended June 2 from the prior week’s upwardly revised 389,000, the Labor Department reported Thursday.”

NAHB“Apartment and Condominium Market Shows Ongoing Improvement in First Quarter” (6-7-12)

“The Multifamily Production Index (MPI), a leading indicator for the multifamily market released by the National Association of Home Builders (NAHB) today, recorded its highest reading since the third quarter of 2005 with an index level of 51.”

Mortgage Bankers Association“Rodrigo Lopez Testifies on the Role of FHA in the Multifamily Mortgage Markets” (6-7-12)

“Rodrigo Lopez, CMB, President and CEO of AmeriSphere Multifamily Finance headquartered in Omaha, Nebraska, today testified on behalf of the Mortgage Bankers Association (MBA) before the U.S. House of Representatives Committee on Financial Services Subcommittee on Insurance, Housing and Community Opportunity at a hearing titled, ‘Oversight of Federal Housing Administration’s Multifamily Insurance Programs’.”

San Francisco Chronicle“Americans Spooked by Slump Cling to Jobs as U.S. Dynamism Fades” (6-7-12)

“The deepest economic slump since the Great Depression has left its mark on both job seekers and job creators, making them more wary about taking risks in a slowly recovering labor market.”

Bloomberg“Pimco’s Home-Loan Wager Seen as Prescient on QE3 Odds: Mortgages” (6-7-12)

“Investors are positioning to benefit from a third round of debt purchases by the Federal Reserve, acquiring mortgage securities they’ll be able to sell to the central bank at higher prices.”

Realty Times“Global Economy Continues to Influence Mortgage Rates” (6-7-12)

“Economic data in the U.S. turned out to be disappointing to investors who were hoping that there would be an indication of further recovery. Unfortunately, last week’s data showed a possible economic slowdown that resulted in a sharp decline in the stock market.”

Housing Wire“Remaining HARP risk leaves mortgage business on the table” (6-7-12)

“Taking advantage of the expanded Home Affordable Refinance Program becomes sharply more difficult for borrowers forced to go through a new mortgage lender, according to many industry executives.”

DS News“Fannie Mae: Consumer Sentiment Leveled in May, Could Slow Recovery” (6-7-12)

“Lulls in employment and income growth led to a plateau in consumer sentiment in May, according to Fannie Mae’s May 2012 National Housing Survey.”

Housing Wire“Deutsche Bank questions S&P CMBS ratings revamp” (6-7-12)

“The head of fixed income analytics at Deutsche Bank ($36.98 1.1%) released a research note to clients about the recent decision from Standard & Poor’s to  revamp its commercial mortgage-backed securities ratings criteria.”

Hard Money Loan Closed

Perris, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $85,000 on a 4 bedroom, 2 bathroom home appraised for $142,000.

 

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the NSDREI 8th Anniversary Dinner Party Tuesday, June 19, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the AREAA 2012 Home Buyer & Real Estate Investment Fair Saturday, July 21, 2012.

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.