California Real Estate Headline Roundup

Posts Tagged ‘Goldman Sachs Group’

By Bruce Norris .

Home Prices Increase Ever So Slightly for Eighth Month Straight

Tuesday, September 23rd, 2014

 

 

 

Today’s News Synopsis:

Home prices in the U.S. increased only slightly by o.1% for the eighth month in a row.  Confidence in the housing market increased this past summer according to the latest Zillow report.  The U.S. is experiencing a shortage of around 1 million affordable homes following budget cuts in redevelopment agencies.

In The News:

DS News“Home Prices Continue to Gain, But at Miniscule Rate” (9-23-14)

“U.S. home prices continued to grow for the eighth straight month in July, though gains slowed to a crawl.  The Federal Housing Finance Agency’s (FHFA) monthly House Price Index picked up 0.1 percent from June to July, coming down after a revised 0.3 percent increase in June.”

Mortgage Professional America“Mortgage lending hit a 6-year high in 2013.  Here’s why you shouldn’t celebrate” (9-23-14)

“Mortgage lending hit a six-year high last year – but that’s not necessarily cause for celebration.  While purchase lending was up for the second straight year in 2013, spiking 13% from the previous year, mortgages for owner-occupied homes were still below every year from 1993 to 2007, according to a Wall Street Journal report.”

Bloomberg“Housing to Top Capital Spending in Next U.S. Growth Leg: Economy” (9-23-14)

“Housing and business capital spending, two areas closely tied to swings in the world’s largest economy, are poised to diverge as home construction gives growth more of a boost in the long run while investment in new plants and equipment shows less promise, according to economists at Goldman Sachs Group Inc. and Morgan Stanley.”

Housing Wire - “CFPB collecting data on 600 million credit accounts despite privacy, security risks” (9-23-14)

“A Government Accountability Office comprehensive study released by the ranking member of the U.S. Senate Banking Committee confirms that the Consumer Financial Protection Bureau is collecting financial data on up to 600 million consumer credit card accounts, without sufficient security and privacy protections to ensure there is no risk of improper collection, use, or release of consumer financial data.”

DS News“Housing Confidence Heats Up, But Expectations Remain Cool” (9-23-14)

“American consumers’ enthusiasm for the housing market rose over the summer from the year’s start, but expectations for future market performance have become more subdued, according to survey results released by Zillow.”

Mortgage Professional America“Appetites grow for non-traditional loans” (9-23-14)

“Competitive pressures and the housing market’s slow recovery have opened the gate to a new path for wholesale lenders – providing brokers with the option to originate non-traditional loans.”

Housing Wire - “Here’s why MBA strongly opposes public CFPB complaint database” (9-23-14)

“The Mortgage Bankers Association strongly opposes making public the Consumer Financial Protection Bureau’s consumer complaint narrative database, an open letter from the MBA to the CFPB says.”

Bloomberg - “California Affordable Homes in Short Supply After Cuts” (9-23-14)

“As Brown runs for re-election, the most-populous state faces a shortage of about 1 million affordable homes, according to the California Housing Partnership Corp.”

 

On Friday, October 24, Bruce Norris will be presenting the 7th annual I Survived Real Estate 2014.

Bruce Norris of The Norris Group will be holding his Property Buying Boot Camp Tuesday-Thursday, November 11-13.

 

Looking Back:

Home prices increased by only 0.6% month-over-month, but year-over-year they showed an increase of 8.7%.  According to the latest report from the Mortgage Bankers Association, delinquency rates for commercial and multifamily mortgages decreased 0.01% in the second quarter.  The FHFA announced they would be starting a new education program to help homeowners understand better refinancing options offered under HARP.

 

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 1/16/13

Wednesday, January 16th, 2013


Today’s News Synopsis:

The Mortgage Bankers Association reported a 15.2% increase in mortgage applications last week.  21 people have been arrested on charges of unemployment fraud totaling $5 million.  JPMorgan reported a 53% increase in earnings with the increase in mortgage fees.

In The News:

Inman“Coldwell Banker partners with Videolicious” (1-16-13)

“In a new relationship that it says could grow, franchising giant Coldwell Banker Real Estate LLC has announced it will provide a customized version of the Videolicious automated video creation platform to 1,000 agents who have demonstrated a desire to grow their business through video.”

Mortgage Bankers Association- “Mortgage Applications Increase in Latest MBA Weekly Survey” (1-16-13)

“Mortgage applications increased 15.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 11, 2013.”

DS News- “Bankruptcy Appellate Panel Rejects Split-the-Note Theory” (1-16-13)

“A three-panel judge representing the United States Bankruptcy Appellate Panel of the Tenth Circuit sided with Mortgage Electronic Registration Systems, Inc. (MERS) in a case involving a split-the-note theory.”

Bloomberg- “Goldman, Morgan Stanley Set $557 Million Fed Mortgage Accord” (1-16-13)

“Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) agreed to offer a $557 million package of cash and other assistance for mortgage borrowers to settle a federal probe into allegations that the banks improperly seized homes.”

Housing Wire- “Refinancing application speeds likely to decline” (1-16-13)

“Combined January refinancing application speeds are expected to decline by 8% for conventional 30-year mortgage rates and 15-year mortgage rates, analysts with Bank of America Merrill Lynch ($11.52 -0.035%) said.”

CNN Money“21 people charged in unemployment fraud scheme” (1-16-13)

“Three people were arrested in California Tuesday for collecting fraudulent unemployment and disability benefits. To date, a total of 21 people have been charged in the $5 million scheme.”

Housing Wire- “Genworth to protect MI business through reorganization” (1-16-13)

“Genworth Financial Inc. ($8.87 0.735%) announced a bold plan to reduce the risk of its U.S. mortgage insurance subsidiary facing a potential default or capital shortfall in the future.”

Bloomberg- “JPMorgan Reports 53% Earnings Increase as Mortgage Fees Rise” (1-16-13)

“JPMorgan Chase & Co. (JPM), the largest U.S. bank by assets, said fourth-quarter profit rose 53 percent, beating analysts’ estimates as mortgage revenue more than doubled and the lender set aside less for future losses.”

Hard Money Loan Closed

Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $175,000 on a 4 bedroom, 3 bathroom home appraised for $272,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association on Thursday, January 17, 2013

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Buena Park Apartment Owners Association on Wednesday, January 23, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at the Apartment Owners Association at the Scottish Rite Center on Thursday, January 24, 2013.

 

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 2/3/12

Friday, February 3rd, 2012

Sources:
Real Estate Outlook: Existing-Home Sales Rise Again
CoreLogic Records 4.7% Drop in Home Prices in 2011
ADP: Private sector adds 170,000 jobs in January
Jobless rate drops to lowest level in almost three years
Unemployment rate falls to 8.3%
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Rates for 30-Year Fixed U.S. Loans Decline to Record-Low 3.87%
Housing construction spending hits 16-year low
Homeownership rate falls to 14-year low
Robo-Signing Settlement Update: Friday is Cutoff for States to Join
Foreclosures Draw Private Equity as U.S. Sells Homes
Report: Freddie Mac bets against homeowner refinancings
Obama administration details refinance plan for underwater borrowers
Senate joins House in effort to cut pay at Fannie Mae, Freddie Mac

Today’s News Synopsis:

This week’s video features a slide show of the news of the week in the world of real estate and other big news stories.  According to CoreLogic, prices for homes decreased 4.7% in 2011, making it the fifth year in a row home prices declined over the year.  Unemployment is at 8.3%, the lowest in three years with the addition of 243,000 new jobs added last month.

In The News:

DS News“CoreLogic Records 4.7% Drop in Home Prices in 2011″ (2-2-12)

“Year-end data from CoreLogic shows home prices fell by 4.7 percent over 2011. It marks the fifth consecutive year the company has recorded an annual decline in residential property values.”

Housing Wire“Unemployment rate falls to 8.3%” (2-3-12)

“The economy added 243,000 jobs in January and the unemployment rate fell to 8.3%, its lowest level since February 2009.  The Labor Department said large gains in professional and business services, leisure and hospitality, and manufacturing jobs drove the gains, which came in well above most analysts’ estimates. The rate in December was 8.5%.”

CNN Money - “Stealth jobs boom: 6 months, 2 million jobs” (2-3-12)

“Companies are saying the job market is getting better. Workers are saying it’s already kicked into high gear.  Friday’s jobs report showed a gain of 243,000 jobs. But a separate survey of households used to determine the unemployment rate shows much, much stronger job gains.”

Realty Times“Average Mortgage Rates Ease Setting New Record Lows” (2-3-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, the average mortgage rates dropped to new all-time record lows as data on economic growth fell short of market projections. All products in the PMMS survey, except the 1-Year ARM, averaged new lows.”

Housing Wire“Obama mortgage refinance plan accelerates equity rebuild” (2-3-12)

“One option under the most recent refinancing plan from the Obama administration would allow borrowers to not only surface from underwater but actually begin building equity in their home at a quicker pace.”

Realty Times“Real Estate Drops But Second Home Market May See Increase” (2-3-12)

“Interest rates continue to remain low for mortgages and it looks as though the Federal Reserve will keep the rate at which banks lend to each other overnight low through 2014. The federal funds rate is expected to remain at zero to 1/4 percent for the next few years due to the depressed housing market and slow business investments.”

San Francisco Chronicle“Mortgage rates for 30-year loans hit record low” (2-3-12)

“Rates for 30-year U.S. mortgages declined to the lowest level on record after the Obama administration announced measures to make it easier for homeowners to reduce their monthly payments by refinancing.”

Housing Wire“Senate adds Fannie, Freddie bonus ban to Stock Act” (2-3-12)

“The Senate agreed to a resolution that would stop executive bonuses at Fannie Mae and Freddie Mac, attaching the measure to a larger congressional insider-trading bill.”

Bloomberg - “Goldman Sachs Mortgage-Backed Securities Suit Granted Class-Action Status” (2-3-12)

“A suit against Goldman Sachs Group Inc. (GS) may go forward as a class action on behalf of all investors in a $698 million mortgage-backed securities offering, a federal judge in Manhattan ruled.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $72,000 on a 2 bedroom, 2 bathroom home appraised for $120,000.

California Real Estate Investor Events:

Bruce Norris of The Norris Group will be at the Advanced Investing Skills and Strategies 2.5 on February 4, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the 2012 Kick Off Brunch on February 18, 2012.

Looking Back:

Freddie Mac reported the average rate for 30-year mortgages increased to 4.81%. The Labor Department said jobless claims declined the previous week. Freddie Mac funded $15 billion worth of multifamily transactions through its multifamily whole loan and bond guarantee business in 2010. The Treasury Department expected the government to hit the $14.29 trillion debt limit before June 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.