The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘Lender Processing Services’

« Older Entries
Newer Entries »

By Bruce Norris .

The Norris Group Real Estate News Roundup 2/25/13

Monday, February 25th, 2013


Today’s News Synopsis:

Faith Schwartz, former executive director of HOPE NOW, has just been appointed as CoreLogic’s SVP of government solutions.  LPS reported home prices increased 5.8% year-over-year in December.

In The News:

Bloomberg – “Bernanke’s Stimulus Spurring U.S. Employment in Housing” (2-24-13)

“Federal Reserve Chairman Ben S. Bernanke has something to tout before Congress in hearings this week: job growth in the auto and housing industries.”

Housing Wire – “LPS: December home prices rose 5.8% annually” (2-25-13)

“Home prices in the U.S. edged up 5.8% year-over-year in December as the average home price rose to $207,000, Lender Processing Services said in its latest Home Price Index.”

DS News- “Survey Profiles Population of Single-Family Renters” (2-25-13)

“The fast-growing population of single-family renters is more likely to dwell in their home for longer periods of time compared to multifamily occupants, which suggests demand for single-family rentals offers greater stability than multifamily demand, according to a new survey from Premier Property Management Group.”

Housing Wire - “Bipartisan housing commission wants GSE dominance erased” (2-25-13)

“In many respects, our housing system is outdated and not equipped to keep pace with today’s demands and the challenges of the imminent future, the Bipartisan Policy Center’s Housing Commission (BPC) wrote in a report released Monday.”

DS News - “Mortgage Daily Ranks 10 Largest Servicers in Q4″ (2-25-13)

“Wells Fargo kept its place as the largest servicer in the fourth quarter, according to a ranking from Mortgage Daily, while Ocwen made its way to No. 6, a spot previously held by Residential Capital in the third quarter.”

Inman - “New CoreLogic exec to help build relationships with government” (2-25-13)

“Real estate information and technology company CoreLogic has appointed the former executive director of Hope Now, a nonprofit alliance between mortgage companies, housing counseling agencies, trade associations, Fannie Mae, Freddie Mac, and others, as its senior vice president of government solutions.”

DS News- “NAHB Stresses Need for Appraisal Reform” (2-25-13)

“As regulatory institutions begin to provide some clarity to the mortgage market, the National Association of Home Builders insists the market still lacks confidence and is badly in need of a sound and functional appraisal system.”

Housing Wire- “NABE: Economic uncertainties remain, with one exception” (2-25-13)

“While gross domestic product is expected to be negatively impacted by all the uncertainty surrounding the nation’s impending debt ceiling debate and the risk of sequestration, the housing sector is expected to continue its upward trajectory, the National Association for Business Economics (NABE) said.”

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $80,000 on a 3 bedroom, 1 bathroom home appraised for $127,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IEIF TOMORROW.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at FIBI Long Beach on Thursday, February 28, 2013.

The Norris Group will be holding their Distressed Property Boot Camp from March 5-7, 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.

Tags: , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 2/19/13

Tuesday, February 19th, 2013


Today’s News Synopsis:

According to the NAHB, builder confidence remains approximately the same, having decreased only one point to 46.  Freddie Mac reported over one-third of households for the multifamily sector are rentals, the highest since 1997.  However, for many in the economy today rental prices are still beyond what they can afford.  The number of loans refinanced through the HARP Refinance Program reached 2 million.

In The News:

Realty Trac – “Washington, D.C. Watch: Low Inventory Pushes D.C. Housing Prices Up” (2-18-13)

“In the Washington, D.C. region real estate is hot. According to MRIS, inventory is tight as fewer and fewer homes are going on the market.”

NAHB – “Builder Confidence Virtually Unchanged in February” (2-19-13)

“Builder confidence in the market for newly built, single-family homes was virtually unchanged in February with a one-point decline to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.”

DS News- “FNC: Foreclosure Market Stabilizing as Home Values Rise” (2-19-13)

“With the ongoing housing market recovery, the foreclosure market is also stabilizing and foreclosure prices are bottoming out, according to a report from FNC Inc.”

Bloomberg - “Brookfield Says U.S. Home Rebound Just Begun” (2-19-13)

“Brookfield Residential Properties Inc., the second-best performing home-building stock in the Americas over the past year, said the recovery in U.S. housing is only just starting to add to earnings.”

Inman - “RealtyTrac launches brokerage network” (2-19-13)

“Online foreclosure marketplace RealtyTrac launched a brokerage network today the company says will provide partners with exclusive leads, market insight and media exposure.”

DS News - “Freddie Mac: Rental Affordability Lacking Amid Growth in Multifamily Sector” (2-19-13)

“In a blog post, a Freddie Mac executive revealed more than one-third of U.S. households are renters, the largest share since 1997, yet adequate, affordable rental housing is still out of reach for many.”

CNN Money - “Office Depot and OfficeMax shares soar on merger chatter” (2-19-13)

“Shares of rival office supply chains Office Depot and OfficeMax soared in early trading Tuesday following widespread reports that the two companies are in merger talks.”

Inman - “LPS signs off on another robo-signing settlement” (2-19-13)

“Real estate information and technology company Lender Processing Services Inc. has agreed to pay $35 million to resolve criminal fraud allegations in connection with a six-year scheme involving more than 1 million fraudulently signed mortgage documents, the U.S. Department of Justice said.”

Housing Wire – “Judge dismisses Florida taxation case against GSEs” (2-19-13)

“U.S. District Judge Virginia Hernandez Covington tossed out a proposed class action suit filed by the Hernando County Circuit Clerk, located about 60 miles north of Tampa, against both Fannie Mae and Freddie Mac.”

DS News- “Report: Obstacles to Policies that Encourage Low-Priced Housing” (2-19-13)

“Inclusionary housing policies—those which either require or encourage developers to provide low-priced housing within market-rate developments—have largely survived the recent housing downturn.”

Housing Wire- “HARP hits 2 million refinances” (2-19-13)

“Fannie Mae and Freddie Mac reached a milestone in refinancing more than 2 million loans through the Home Affordable Refinance Program, according to the Federal Housing Finance Agency.”

Hard Money Loan Closed

Corona, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $210,000 on a 4 bedroom, 2 bathroom home appraised for $346,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at IEIF on Tuesday, February 26, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at FIBI Long Beach on Thursday, February 28, 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.

Tags: , , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/31/13

Thursday, January 31st, 2013


Today’s News Synopsis:

Freddie Mac reported mortgage rates increased for the second week in a row, with 30-year rates now at 3.353%, their highest in four months.  The Lender Processing Services reported trends in delinquencies, which increased 0.7% month-over-month in December, foreclosure starts up from 4.8%, and negative equity.  The FHA announced yesterday that they will raise premiums by 0.1% on new mortgages.

In The News:

DS News - “LPS: 2012 Trends for Delinquencies, Foreclosures, and Negative Equity” (1-31-13)

“While the national delinquency rate remains elevated and even increased slightly month-over-month in December, the delinquency rate ended the year 32 percent lower than the January 2010 peak, according to the December Mortgage Monitor report from Lender Processing Services (LPS).”

Housing Wire – “Investors uncertain about due diligence loan disclosures” (1-31-13)

“About 50% of U.S. investors in the securitization market are unsure as to whether there is sufficient disclosures to perform due diligence, even with a more mature infrastructure and streams of quality data when compared to other global markets such as the European Union, according to Principia.”

Bloomberg - “U.S. Mortgage Rates Rise With 30-Year Highest in 4 Months” (1-31-13)

“U.S. mortgage rates rose for a second week, increasing borrowing costs as tight supplies of listings drive up home prices.”

Realty Times - “Rents Hit Ceiling As More Renters Become Buyers” (1-31-13)

“With more and more households fed up with the rising cost of rent and with homeownership often more affordable on a month-to-month basis, rents hit a wall in the fourth quarter last year.”

CNN Money- “FHA to hike premiums on mortgages” (1-31-13)

“Government-insured mortgages are about to get more expensive.  The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced Wednesday that it will raise premiums by 10 basis points, or 0.1%, on most of the new mortgages it insures.”

DS News - “LPS Resolves ‘Robo-Signing’ Allegations in $127M Multistate Settlement” (1-31-13)

“Forty-six state attorneys general and the District of Columbia reached a settlement agreement with Lender Processing Services, Inc. and its subsidiaries—LPS Default Solutions and DocX—to resolve allegations concerning the company’s foreclosure practices.”

Inman – “RealtyTrac names ’20 best places to buy foreclosures’” (1-31-13)

“Most large metro markets in the U.S. saw increased foreclosure activity in 2012, according to a report from foreclosure data aggregator RealtyTrac.”

Bloomberg- “U.S. Mortgage Refinancing Push Said to Advance in Congress” (1-31-13)

“The U.S. Treasury Department and members of Congress are preparing to move forward with plans to expand government-backed refinancing programs to underwater homeowners whose loans are packaged in private-label securities.”

Hard Money Loan Closed

Rialto, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $176,000 on a 5 bedroom, 3 bathroom home appraised for $275,000.

 

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 2012.

Bruce Norris of The Norris Group will be speaking at the 2013 Real Estate and Tax Strategies Kick-Off Brunch on Saturday, February 9, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 2013.

Looking Back:

According to the latest Standard & Poor’s/Case-Shiller Index, the prices of homes decreased 3.7% from the previous year.  In other news, the Conference Board reported consumer confidence declined again in January after having increased at the end of 2011.   The Congressional Budget Office expected taxpayers would pay $27 billion to aid Fannie and Freddie from 2013 to 2022.

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.

Tags: , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/28/13

Monday, January 28th, 2013


Today’s News Synopsis:

Pending home sales decreased 4.3% month-over-month in December.  At the same time home prices increased 0.5% month-over-month in November.  The Joint Powers of Authority rejected San Bernardino’s motion to use eminent domain as a way to deal with negative equity.

In The News:

Inman – “Tight inventories weigh on prospects for 2013 growth” (1-28-13)

“Tight listing inventories are likely to constrain growth in 2013 home sales, the National Association of Realtors said in releasing a report showing that pending sales dropped 4.3 percent from November to December.”

DS News- “San Bernardino County Rejects Eminent Domain Proposal” (1-28-13)

“After much debate and consideration, an idea that had been brewing in San Bernardino County to address negative equity through the use of eminent domain was rejected Thursday by the Joint Powers Authority (JPA).”

Housing Wire- “U.S. home prices crawl upward” (1-28-13)

“U.S. home prices continued to inch their way up, showing a 0.5% increase from October to November, according to the latest Lender Processing Services home price index.”

Bloomberg- “Las Vegas Area Leads U.S. in Home-Construction Gains” (1-28-13)

“Las Vegas, one of the hardest-hit cities in the U.S. real estate crash, had the biggest jump in housing starts in the fourth quarter, almost doubling from a year earlier.”

Inman- “Clear Capital offers Freddie Mac valuation tools” (1-28-13)

“Two property valuation tools from mortgage giant Freddie Mac are now available to lenders and third-party resellers such as appraisal management companies, data providers and due diligence firms through real estate data and valuation firm Clear Capital.”

DS News – “Massachusetts Completed Foreclosures Shrink in 2012, Starts Increase” (1-28-13)

“From 2011 to 2012, the number of completed foreclosures fell in Massachusetts, while foreclosure starts experienced a significant increase, according to a report from the Warren Group.”

Bloomberg- “Fannie Adds Bailout For Underwater Walkaways: Mortgages” (1-28-13)

“Fannie Mae (FNMA) and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money.”

Housing Wire- “ASF 2013: Fannie Mae and Freddie Mac are here to stay” (1-28-13)

“Although the housing market has posted a shift in positive momentum, many factors within housing finance will likely remain for quite some time, and reform is not expected any time soon.”

Hard Money Loan Closed

Norwalk, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $185,000 on a 3 bedroom, 1 bathroom home appraised for $307,000.

 

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 2012.

Bruce Norris of The Norris Group will be speaking at the 2013 Real Estate and Tax Strategies Kick-Off Brunch on Saturday, February 9, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at OCREIA on Thursday, February 21, 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.

Tags: , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/23/13

Wednesday, January 23rd, 2013


Today’s News Synopsis:

According to the Federal Housing Finance Agency, home prices increased 0.6% month-over-month in November.  The Lender Processing Services reported inventory and mortgage delinquency rates were both down for the month of December.  Customers withdrew the most money this month since 9/11, leading to the biggest decrease in deposits since then.

In The News:

Housing Wire – “Home prices maintain upward trajectory” (1-23-13)

“Home prices in the U.S. rose 0.6% from October to November, according to the Federal Housing Finance Agency’s latest house price index. This compares to the index’s 0.5% increase in October.”

DS News- “LPS: Foreclosure Inventory, Delinquency Rates Decrease from Year Ago” (1-23-13)

“Lender Processing Services (LPS) offered preliminary data on mortgage performance in December, revealing foreclosure inventory and delinquency rates were both down year-over-year.”

Mortgage Bankers Association- “Biggest Banks Back to Black in Fed-Fueled Recovery: Mortgages” (1-23-13)

“Mortgage applications increased 7.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 18, 2013.”

Bloomberg- “U.S. Bank Deposits Drop Most Since 9/11 Terror Attacks” (1-23-13)

“Clients of the largest U.S. banks withdrew funds this month at the fastest weekly pace since the Sept. 11 attacks as a deposit-insurance program ended and customers tapped into their year-end cash hoards.”

Inman- “Feds propose social media guidance for mortgage lenders” (1-23-13)

“Responding to requests from industry and consumer groups, federal regulators have released proposed guidance for financial institutions to follow when using social media to market products including residential mortgage loans.”

DS News – “FFN Announces Offering for $85M in Loans from NOVA Bank” (1-23-13)

“On belief of the FDIC, First Financial Network, Inc. (FFN) is selling $85 million in loans from the failed NOVA Bank based in Berwyn, Pennsylvania.”

Bloomberg- “New York Protecting Defaulters Stalls Rebound: Mortgages” (1-23-13)

“New Yorkers Paul and Angelica Kashman, declared in default on their mortgage in July 2010 and foreclosed on by Wells Fargo & Co. (WFC) in February 2011, say they aren’t deadbeats.”

Housing Wire- “Wealth effect creeps back into American households” (1-23-13)

“The nascent housing recovery is beginning a shift from economic headwind to tailwind, creating the indirect effect of giving average American households hope to, once again, begin to retain a level of wealth.”

Hard Money Loan Closed

Palmdale, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $98,000 on a 4 bedroom, 2 bathroom home appraised for $156,000.

 

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 today.

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.

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 2012.

Looking Back:

CNN Money reported the neighborhoods hit hardest by foreclosures were those in cul-de-sacs and tree lined streets as well as neighborhoods with modern homes.  Moody’s Investor Services reported a decrease in loan modifications.   Banks and other companies were beginning to move away from using FICO scores to determine a borrower’s credit worthiness and were instead moving toward using mathematical algorithms.

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.

Tags: , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 1/14/13

Monday, January 14th, 2013


Today’s News Synopsis:

Foreclosure inventory declined drastically in 2012 as a result of the national foreclosure settlement.  Inventory decreased to 3.51% in November, down 2.84% from October and 10% from September.  The total number of home sales increased 6% last year to 4.2 million.  Mortgage delinquencies also increased in states such as New York, New Jersey, and Connecticut where Hurricane Sandy hit the hardest.

In The News:

DS News – “The Rise and Fall of REO Sales” (1-14-13)

“REO sales no longer play the dominant role they once did in real estate transactions.  The recent decline in REO sales, along with the decrease in inventory, is helping the market see an improvement in prices, according to a report from Corelogic.”

Housing Wire- “National foreclosure inventory drops: LPS” (1-14-13)

“U.S. homes in foreclosure fell significantly in the latter part of 2012 as the influence of the national foreclosure settlement took hold, delaying the overall pace of foreclosures.”

Bloomberg- “Mortgage Delinquencies Jump in Areas Hit Hard by Sandy” (1-14-13)

“Mortgage delinquencies have jumped about four times the U.S. average in areas of New York, New Jersey and Connecticut that were damaged by Hurricane Sandy, according to Lender Processing Services Inc. (LPS).”

Inman- “Century 21 expects Super Bowl ads to boost website traffic” (1-14-13)

“Hoping to see the same kind of boost in website traffic that it did last year, Century 21 Real Estate is creating four separate ads as part of its second consecutive Super Bowl XLVII TV ad campaign.”

Housing Wire- “Total home sales jump 6% in 2012″ (1-14-13)

“The year 2012 brought a housing turnaround with total home sales increasing 6% to 4.2 million sales for the entire year, CoreLogic said Monday.”

CNN Money – “Will the bank stock rally last?” (1-14-13)

“Bank stocks outperformed the broader market last year, but that trend may not last in 2013.”

Bloomberg- “Mortgage Bonds Slump as Fed’s Buying Boost Fades: Credit Markets” (1-14-13)

“After posting their worst returns since 1999, government-backed mortgage bonds are starting 2013 with losses on speculation the end of Federal Reserve purchases is in sight and as homeowner refinancing roils the market.”

Housing Wire- “QM may bring euphoric end to RMBS rally” (1-14-13)

“The release of the final qualified mortgage rule resulted in positives for home prices and created additional upside potential, market analysts said.”

Hard Money Loan Closed

North Hollywood, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $480,000 on a 3 bedroom, 2 bathroom home appraised for $795,000.

 

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.

Tags: , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 12/21/12

Friday, December 21st, 2012



Sources:
Missouri Bank Closing Raises 2012 Tally to 51
Real Estate Outlook: RealtyTrac’s November Foreclosure Report
Builder Confidence Continues Improving in December
Prices Continue to Climb in November: RE/MAX
Groups Gather to Assist New York Homeowners Impacted by Sandy
California foreclosure inventory shrinks on short sales, loan mods

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video. Home values increased for the first time since 2006 according to Zillow.  Personal income also increased 0.6% last month.

In The News:

Housing Wire- “Housing recovery crosses halfway mark: Trulia” (12-21-12)

“The housing industry is 51% back to normal, according to a Trulia ($16.12 -0.13%) assessment of key housing statistics.”

DS News- “Zillow: Home Values to See First Annual Cumulative Gain Since 2006″ (12-21-12)

“After five years of cumulative losses, home values will finally post their first annual gain, according to data from Zillow.”

Realty Times- “Mortgage Rates Mixed, 30-Year Fixed Averages 3.37 Percent” (12-21-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, fixed mortgage rates were mixed following data reports on inflation and the housing construction market. The 30-year fixed moved up averaging 3.37 percent, while the 15-year fixed eased to 2.65 percent, both remaining near their record lows.”

Housing Wire – “LPS: 7.12% of U.S. loans are delinquent” (12-21-12)

“Mortgage delinquencies ticked up in November even though the nation continued to experience declining distressed inventory levels and fewer delinquencies year-over-year, according to data firm Lender Processing Services.”

DS News- “Personal Income Jumps In November” (12-21-12)

“Personal income jumped 0.6 percent in November—twice what economists forecast—improving $85.8 billion, while spending rose a hefty 0.4 percent, the Bureau of Economic Analysis (BEA) reported Friday. The growth in spending matched economists’ forecasts.”

 

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:

The NAHB reported an increase in confidence for homebuilding for the third month in a row.  However, mortgage rates were down to a new low according to the latest survey released by the Mortgage Bankers Association.  The number of existing homes increased again the previous month by 4% according to NAR, and shadow inventory is continuing to remain 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.

Tags: , , , , , , , , , ,
Posted in News, Video Blog | No Comments »

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.

Tags: , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 11/8/12

Thursday, November 8th, 2012

 

Today’s News Synopsis:

Unemployment claims decreased by 8,000 last week in the wake of Hurricane Sandy.  The mortgage delinquency rate increased 7.7% from month-over-month in September, the largest increase for late payments since 2008.  Mortgage rates continue to remain at record lows with 30-year rates at 3.4% and 15-year rates at 2.7%.

In The News:

CNN Money- “Jobless claims fall amid Hurricane Sandy” (11-8-12)

“Claims for unemployment benefits fell last week, as Hurricane Sandy led to power outages and closed offices on the East Coast and kept many people from filing claims.”

Housing Wire- “September mortgage delinquencies higher: LPS” (11-8-12)

“The national mortgage delinquency rate rose 7.7% from August to September, making it the largest monthly late payment increase in four years, according to Lender Processing Services.”

Bloomberg- “U.S. Mortgage Rates Little Changed Close to Record Lows” (11-8-12)

“Mortgage rates were little changed, keeping borrowing costs close to record lows after home prices increased in more U.S. cities.”

Realty Times- “Beware: Impostor landlords targeting Freddie Mac REOS “ (11-8-12)

“Scam artists masquerading as landlords are trying to cash in foreclosed homes by advertising them as rentals on the Internet.”

DS News- “Prices Are Up, but Credit Must Be Addressed for Full Recovery” (11-8-12)

“Even though President Obama and Governor Romney Romney were criticized for evading housing issues when running for president, Clear Capital asserts the “sprint” in housing still spoke positively for Obama and assisted him in his recent re-election.”

NAHB- “Builder Confidence in the 55+ Housing Market Continues to Improve in the Third Quarter” (11-8-12)

“Builder confidence in the 55+ housing market for single-family homes showed significant improvement in the third quarter of 2012 compared to the same period a year ago, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI) released today.”

Bloomberg- “Bond Investors See Obama Win Fueling Refi Risk: Mortgages” (11-8-12)

“President Barack Obama’s re-election is fueling investor concern that homeowner refinancing is set to increase after debt yields tumbled and amid speculation his administration will pursue more aggressive measures to boost the housing recovery.”

Housing Wire- “BofA Merrill Lynch analysts forecast 5% 4Q rise in home prices” (11-8-12)

“Bank of America Merrill Lynch  ($9.46 0.228%) revised its housing forecast upward due to a better alignment of supply and demand, and now predicts the S&P/Case-Shiller Index will increase by 5% in the fourth quarter over 4Q 2011.”

DS News- “Credit Unions Point to Troubling Aspects of Proposed CFPB Rules” (11-8-12)

“The National Association of Federal Credit Unions expressed its opposition to the Consumer Financial Protection Bureau’s proposed rule on mortgage application and settlement disclosures.”

Hard Money Loan Closed

Altadena, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $240,000 on a 3 bedroom, 2 bathroom home appraised for $410,000.

 

The Norris Group and numerous real estate professionals converge for a good cause and networking for Give BIG Riverside on Tuesday, November 13, 2012.

Bruce Norris of The Norris Group will be at the Investors Workshops at the Doubletree Hotel in Orange on Wednesday, November 28, 2012.

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.

Looking Back:

The percentage of homeowners who were underwater increased to 28.6% according to the latest Zillow report.  Home prices increased 4% in the third quarter of 2011 despite the value of houses decreasing slightly from the previous quarter.  DS News reported overdue mortgages increased for the first time in almost two 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.

Tags: , , , , , , , , , , , , , ,
Posted in News | No Comments »

The Norris Group Real Estate News Roundup 10/30/12

Tuesday, October 30th, 2012

Today’s News Synopsis:

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 last 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% last September.


In The News:

Inman- “August home prices continue steady rise” (10-30-12)

“The 10- and 20-city S&P/Case-Shiller home price indices posted monthly increases for the fifth month in a row in August, according to a report released today.”

Bloomberg – “U.S. Housing Vacancies Fall and Ownership Flat as Rentals Rise” (10-30-12)

“U.S. residential vacancy rates fell in the third quarter as the growth in households outpaced construction, the Census Bureau reported.”

DS News- “LPS Settles with Colorado AG for $1.8M” (10-30-12)

“Lender Processing Services, Inc. (LPS) reached a settlement with Colorado Attorney General John Suthers for $1.8 million over former document execution practices by LPS subsidiaries, DocX, LLC and LPS Default Solutions.”

Realty Times – “California REALTORS® Change The Rules For Short Sale Offers of Compensation” (10-30-12)

“Directors of the California Association of Realtors® (CAR) recently voted to amend the state model MLS rules as they apply to short sales.”

Realty Trac- “RealtyTrac on The Willis Report: Why Most Housing Markets Worse Off Than 2008″ (10-30-12)

“A housing report issued last week by RealtyTrac found that housing markets in 65 percent of U.S. counties are worse off than it was four years ago.”

DS News – “Disaster Relief Available for Homeowners with Freddie Mac Loans “ (10-30-12)

“Homeowners with mortgages guaranteed by Freddie Mac may be eligible for payment relief if they are located in an area that has been devastated by Hurricane Sandy.”

Housing Wire- “Wells Fargo mails checks to thousands with FHA-backed mortgages” (10-30-12)

“Wells Fargo ($33.97 -0.09%)recently surprised thousands of home loan customers by sending refund checks to a fraction of its Federal Housing Administration-backed borrowers.”

Bloomberg – “Real Estate Recovery Challenged by Sandy: Mortgages” (10-30-12)

“The U.S. real estate recovery that’s gained strength this year faces a setback from flooding and property damage inflicted by Hurricane Sandy, the biggest tropical gale to hit the Atlantic seaboard.”

Housing Wire – “FHFA: 30-year mortgage rate edges up” (10-30-12)

“The average interest rate recorded on a conventional 30-year, fixed-rate mortgage rose 2 basis points to 3.76% in September, the Federal Housing Finance Agency said Tuesday.”

Hard Money Loan Closed

Lancaster, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $58,000 on a 4 bedroom, 2 bathroom home appraised for $90,000.

 

Bruce Norris of The Norris Group will be at the OCRE Forum at the Chinese Cultural Center in Riverside on Wednesday, November 7, 2012.

The Norris Group will be holding their Distressed Property Boot Camp from January 29-31, 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.

Tags: , , , , , , , , , , , , ,
Posted in News | No Comments »

« Older Entries
Newer Entries »