Today’s News Synopsis:
Existing home sales decreased unexpectedly last month by 0.6%. The NAHB is urging Congress to make changes that will improve the guest workers provisions in the Immigration Bill. California Attorney General Kamala Harris announced that grant funds obtained by the recent mortgage settlement will be used to help many homeowners affected by foreclosures.
In The News:
Bloomberg - “Previously Owned U.S. Home Sales Unexpectedly Fell in March” (4-22-13)
“Sales of previously owned U.S. homes unexpectedly dropped in March, showing uneven progress in the industry.”
Housing Wire – “Majority opinion: Reduce Treasuries first, hold fast on MBS” (4-22-13)
“While the technical backdrop has improved for mortgage-backed securities, the vast majority of investors appear complacent with respect to the Federal Reserve’s exit from the market, said JPMorgan Chase in its latest survey.”
DS News – “California Groups Awarded $9.4M to Provide Foreclosure Help” (4-22-13)
“Grant funds secured through the national mortgage settlement will be used to provide a wide range of assistance to California homeowners impacted by the state’s foreclosure crisis. California Attorney General Kamala D. Harris announced 21 organizations were awarded funds through a $9.4 million grant.”
“The National Association of Home Builders (NAHB) commends the bipartisan Senate sponsors of legislation to advance comprehensive immigration reform and today called on lawmakers to improve the guest worker provisions in the bill to address the significant role that foreign workers play in the housing industry and to help alleviate current labor challenges that are hampering the housing and economic recovery.”
Realty Times - “Freddie Mac Offers Delinquent Borrowers Streamlined Modification” (4-22-13)
“Struggling homeowners are getting a big break this summer from Freddie Mac’s and Fannie Mae’s Streamlined Modification program.”
Housing Wire - “Redwood maps out geographically diverse RMBS deal” (4-22-13)
“It’s like clockwork. Real estate investment trust Redwood Trust is exceeding its monthly issuance goal, setting out with its sixth and most geographically diverse private-label residential mortgage-backed securitization deal of the year.”
DS News - “Gallup: More Americans Expect Home Prices to Rise in Their Area” (4-22-13)
“The infectious optimism surrounding the housing market has the majority of Americans feeling more positive, according to survey results from Gallup.”
Hard Money Loan Closed
Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $75,000 on a 3 bedroom, 1 bathroom home appraised for $146,000.
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.
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.