Today’s News Synopsis:
In The News:
CNBC – “Merging Landlords See Growing Profit on rentals” (12-7-15)
“It was supposed to be a short-term play. Investors would buy thousands of bargain-basement single-family homes during the foreclosure crisis, rent them for a few years and then sell them off and be done.”
Mortgage Professional America – “Association calls for unity in industry” (12-7-15)
“Independent mortgage professionals obviously lack the political sway the big banks enjoy, but that just means more unity is needed among the smaller players to improve their collective clout.”
“The National Association of Home Builders (NAHB) applauded today’s announcement that the Environmental Protection Agency (EPA) has unveiled a voluntary Construction General Permit (CGP) stormwater compliance template for residential building lots of one acre or less.”
Realty Trac – “Will FHA Defections Change The Mortgage Marketplace?” (12-7-15)
“The FHA is facing a mutiny. Despite terrific results in fiscal 2015, some of the largest lenders in the country have had it with the nation’s per-eminent mortgage insurance program. They’re offering borrowers alternative loan options and setting up the mortgage industry for a clash of financial titans.”
DS News – “Housing Outlook for 2016: Higher Home Sales and Prices, Falling Refi Volumes” (12-7-15)
“The year 2016 is expected to usher in the creation of 1.25 million new households, higher rental demand, increased home sales, and a rise in home purchase loan originations even as refinancing volume plummets, CoreLogic’s Chief Economist predicted Monday.”
Mortgage Professional America – “Morning Briefing: Las Vegas housing market now a safer bet” (12-7-15)
“The housing market in Las Vegas is starting to stabilize after many years of turbulence following the crash. The Greater Las Vegas Association of Realtors reported Friday that even at this traditionally-slower time of year there has been better activity; home sales of 2,476 were just 7 lower than November 2014 while the median price for single-family existing homes increased by 8.9 per cent to $220,000.”
Housing Wire – “Black Knight: Consumers aren’t getting Fannie, Freddie 3% down mortgages” (12-7-15)
“For all the uproar that surrounded Fannie Mae and introducing loan programs that allowed buyers to put down as little as 3% around this time last year, not many buyers are actually taking advantage of the low down payment loans, according to a new report from Black Knight Financial Services (BKFS).”
DS News – “GSE Reform Must Go Through the Financial Stability Oversight Council” (12-7-15)
“Everyone agrees that there must be GSE reform, but no one agrees on exactly how it should be accomplished. Eight of the nine voting members on the Financial Stability Oversight Committee will testify Tuesday before the House Financial Services Committee, and over at The Hill, the argument is made that GSE reform has to run through FSOC.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDCIA on Tuesday, December 8.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
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