California Real Estate Headline Roundup

Posts Tagged ‘Moody’s Investor Service’

By Bruce Norris .

New Home Purchase Applications Increase 0.3% Last Month

Friday, May 15th, 2015

 

 

 

Sources:

Mortgage industry gains nearly 2000 jobs
NAR: Tight inventory, demand push home prices higher in first quarter

 

Today’s News Synopsis:

 

Aaron Norris of the Norris Group gives the news of the week in this week’s real estate headline roundup video.  New home purchase applications increased last month by 0.3%.  It is expected that existing home sales will end this year at record highs.  The House Financial Services Housing and Insurance Subcommittee is asking for an agreement on TILA-RESPA to be postponed.

 

In The News:

Bloomberg - “Treasury-Market Upheaval Seen Hurting U.S. Utility, REIT Shares” (5-14-15)

“Shares of utilities and real estate investment trusts may cause any “disorderly correction” in U.S. bonds to spread into stocks, according to Michael Shaoul, chief executive officer at Marketfield Asset Management LLC.”

NAHB - “Help for Remodelers, Consumers from House Lead Paint Bill” (5-15-15)

“Responding to ongoing concerns from the National Association of Home Builders (NAHB) and affiliated trade groups, bipartisan legislation to make much-needed improvements to the Environmental Protection Agency’s (EPA) Lead: Renovation, Repair and Painting (LRRP) rule was reintroduced in the U.S. House of Representatives yesterday. The bipartisan bill was introduced by Rep. Kevin Cramer (R-N.D.), along with eight original co-sponsors.”

Mortgage Bankers Association- “Applications for New Home Purchases Increased Slightly in April” (5-15-15)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for April 2015 shows mortgage applications for new home purchases increased by 0.3 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.”

Housing Wire - “Moody’s: Falling delinquencies bolster single, multifamily HFA portfolios” (5-15-15)

“Both single-family and multifamily portfolios securing housing finance agency bonds showed significant improvement in delinquency rates, Moody’s Investor Service says in two new reports.”

Mortgage Professional America - “House subcommittee wants delay on TILA-RESPA enforcement” (5-15-15)

“The House Financial Services Housing and Insurance Subcommittee held a hearing Thursday to determine how the upcoming integrated disclosure rule will affect consumers and mortgage lenders. The subcommittee touted bipartisan legislation that would delay enforcement of the new disclosure rule.”

DS News - “FHFA Updates Mortgage-Backed Security Structure Initiative” (5-15-15)

“The Federal Housing Finance Agency (FHFA) recently issued an update to mortgage-backed security (MBS) structure initiative, also known as Single Security. The new changes to the Single Security structure initiative are based on 23 responses to a “Request for Public Input: Proposed Single Security Structure (RFI)” released in August 2014 by the FHFA. The Single Security initiative is still in the works for approval and has not be enacted yet.”

Housing Wire - “Existing home sales to finish 2015 at record level” (5-15-15)

“Existing home sales are expected to finish the year at their highest level since 2006, the National Association of Realtors’ economic forecast forum revealed at its 2015 Legislative Meetings & Trade Expo.”

Bruce Norris of The Norris Group will be presenting Discover How to Create A $100,000 Payday Per Deal in 2015 at Pasadena FIBI on Thursday, May 21.

Bruce Norris of The Norris Group will be speaking at the 18th Annual Inland Empire Market Trends Seminar on Thursday, June 4.

Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch on Saturday, June 6.

 

Looking Back:

Builder confidence remained relatively the same, having dropped only one point in this month to 45.  The latest foreclosure report from RealtyTrac showed activity decreased 1% from March to 115,000.  The NAR predicts the sales of existing homes to be slower than the previous year.

Copyright: Image from www.flickr.com/photos/106574022@N04/

 

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.


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SB 2438 Rejected by Congress

Wednesday, December 10th, 2014

 

Today’s News Synopsis:

In a big news story, SB 2438 was rejected by Congress.  Had it passed, it would have allowed a 4 bp administration fee to be charged by the Federal Housing Administration.  The Mortgage Bankers Association reported mortgage applications increased 7.3% from last week.  Fannie Mae and Freddie Mac have decided to briefly allow homeowners living in foreclosed homes more time before their eviction.

In The News:

Housing Wire“Moody’s” HY-Lite covenant structures dominate homebuilding deals” (12-10-14)

“North American homebuilding companies have generally been issuing bonds with the weaker covenant packages more typical of investment-grade deals, says Moody’s Investor Service.”

Mortgage Bankers Association - “Mortgage Applications Increase in Latest MBA Weekly Survey” (12-10-14)

“Mortgage applications increased 7.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 5, 2014.”

DS News“Mortgage Delinquency Rate Predicted to Fall to Pre-Recession Level by End of 2015″ (12-10-14)

“The nation’s mortgage loan delinquency rate is expected to fall down to 2.51 percent by the end of 2015, its lowest level since prior to the housing bust, according to data released by TransUnion on Wednesday.”

Housing Wire- “Will mortgage lenders offer 3% down GSE products?” (12-10-14)

“The housing industry is not as quick to jump onboard with the Federal Housing Finance Agency’s decision to offer 97% loan-to-value products.”

Bloomberg“JPMorgan Sees ‘High Teens’ Decline in Trading Revenue” (12-10-14)

“JPMorgan Chase & Co. (JPM) probably will report a “high teens” percentage drop in fourth-quarter trading revenue from a year ago, Chief Financial Officer Marianne Lake said. The shares fell as much as 2.3 percent.”

Mortgage Professional America“GSEs spread holiday cheer by suspending evictions during December” (12-10-14)

“Fannie Mae and Freddie Mac will follow their usual holiday tradition this year and temporarily halt evictions from Dec. 17, 2014 to Jan. 2, 2015.”

Housing Wire“New FHA administrative fee defeated in Congress” (12-10-14)

“A provision in Senate Bill 2438 that would have allowed the Federal Housing Administration to charge a 4 bp administrative fee has been formally dropped from the Transportation, Housing and Urban Development and Related Agencies Appropriations Act.”

Mortgage Professional America“The housing implications of the Ferguson case” (12-10-14)

“The wave of riots in Ferguson, Missouri, has dampened its housing market, but some are using the protests as selling points.  Preliminary data shows the number of days a home is on the market has risen and the price of properties has dropped, according to The Canadian Press.”

Hard Money Loan Closed

La Puente, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $213,000 on a 3 bedroom, 2 bathroom home appraised for $424,000.

La Puente Hard Money Loan closed by the Norris Group

 

Bruce Norris of The Norris Group will be speaking at LAREIA presenting How to create a $100,000 Payday Per Deal in 2015 TODAY.

Bruce Norris of The Norris Group will be speaking at Prosperity Through Real Estate presenting How to create a $100,000 Payday Per Deal in 2015 on Tuesday, January 6.

Bruce Norris of The Norris Group will be speaking at CVREIA presenting How to create a $100,000 Payday Per Deal in 2015 on Wednesday, January 14.

 

Looking Back:

In a big news story, Mel Watt was officially declared the new director of the FHFA after a vote from the Senate.  The U.S. saw a 30% decrease in foreclosures year-over-year in October.  More and more consumers were being cautious, causing a slowdown in the recovery.

 

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 3/23/12

Friday, March 23rd, 2012

Sources:
Mortgage Rates Up, With 30-Year Fixed Above 4 Percent
U.S. Home Prices Have Smallest Decline in More Than 2 Years
Buying a home cheaper than renting in most places
Weekly jobless claims fall 5,000 to 4-year low
Federal judge shuts down Santa Ana mortgage-relief operation
Average 30-year mortgage rate edges up, above 4%, Bankrate says
Existing home sales dip 0.9% in February
Interest Rates Highest Since December, Applications Decrease in Latest MBA Weekly Survey
Homebuilding permits returning in top foreclosure states
U.S. Housing Heals as Starts Near Three-Year High: Economy
Taylor, Bean & Whitaker CFO pleads guilty in mortgage fraud scheme
Builder Confidence Unchanged in March
Treasury Announces a $25B Return Through its MBS Portfolio
Federal Reserve to fine eight more banks on foreclosure violations

Today’s News Synopsis:

This week’s video is a slideshow of the news of the week in the world of real estate and other big news of the week.  Sales of new homes decreased 1.6% last month according to the Commerce Department.  30-year fixed rate mortgages are now up to 4.08%.   As a way to help homeowners facing foreclosure, title on the property will be transferred to the bank, who in turn will turn the home into a rental.

In The News:

Housing Wire“February new home sales fall 1.6%: Commerce Dept.” (3-23-12)

“New home sales dipped 1.6% in February to 313,000 from January, but rose 11.6% from the same period a year earlier.  The seasonally adjusted annual measure, released by the Commerce Department Friday, fell from a downwardly revised January estimate of 318,000 from 321,000.”

Realty Times“30-Year Fixed-Rate Mortgage Averages 4.08 Percent” (3-23-12)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, mortgage rates continued to follow bond yields higher amid improving economic data. The average 30-fixed rate mortgage averaged 4.08 percent for the week clearing the 4 percent barrier for the first time since October 27, 2011, when it averaged 4.10 percent.”

DS News“Moody’s: Foreclosure Timelines on the Rise; More Losses to RMBS” (3-23-12)

Foreclosure timelines are on the rise, and the increase is resulting in greater losses to residential mortgage backed securities (RMBS), according to Moody’s Investor Service’s Servicer Dashboard for the fourth quarter 2011, released Thursday.”

Los Angeles Times“Bank of America turns foreclosure-facing homeowners into renters” (3-23-12)

“Bank of America: Lenient landlord? The bank is launching a pilot program that would allow customers with underwater mortgages to avoid foreclosure by becoming renters.  In its testing stages, the Mortgage to Lease program will involve fewer than 1,000 customers in Arizona, Nevada and New York who are at least 60 days behind on payments for their Bank of America loan. Their homes must be worth less than what is owed on their mortgages.”

Housing Wire“Mass layoffs decline, 345 metros report falling jobless rates” (3-23-12)

“Mass layoffs declined in February, and 345 metro areas reported lower unemployment rates for the month of January, according to the Bureau of Labor Statistics.”

DS News“AREAA Launches International Networking Platform” (3-23-12)

“The Asian Real Estate Association of America (AREAA) recently launched AREAA Net, an international networking platform to connect members with 400,000 real estate professionals from over 100 countries, according to a release from the association.”

Bloomberg“NYC Office Leases Lowest Since 2009 on Wall Street Cuts” (3-23-12)

“Manhattan office leasing in the first quarter is poised to be the lowest in almost three years as Wall Street cut jobs and needed less space, according to preliminary data from brokerage Studley Inc.”

Housing Wire“Freddie CEO signals GSE principal reduction could be soon” (3-23-12)

“Freddie Mac CEO Charles “Ed” Haldeman gave a strong signal Friday that new incentives from the Treasury Department may be enough to start principal reduction on mortgages backed by the government-sponsored enterprises.”

Mortgage Bankers Association“CampusMBA Teams with The Lincoln Leadership Institute at Gettysburg (LLI) to Offer Unique Leadership Development Opportunity” (3-23-12)

“CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), today announced it is teaming up with The Lincoln Leadership Institute at Gettysburg (LLI) to offer a unique and innovative team and leadership development program, A Transformational Journey from Gettysburg, a comprehensive on-site training program which uses the Battle of Gettysburg as a metaphor to address current real estate finance industry challenges.”

Inman“Top 10 markets to invest in” (3-23-12)

“Realtor.com’s latest top 10 investment markets report shows metros just off the beaten path leading the way.  Built from Realtor.com data updated through February 2012, the report put Tucson, Ariz.; Austin, Texas; and Kansas City, Mo., as the top current real estate markets to invest in.”

DS News“Former Fannie Mae VP Joins Veros as SVP of Strategic Initiatives” (3-23-12)

“A former Fannie Mae VP of single-family strategic initiatives joined Veros Real Estate Solutions as SVP of strategic initiatives.”

Hard Money Loan Closed

Altadena, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $375,000 on a 5 bedroom, 3 bathroom home appraised for $618,000.

California Real Estate Investor Events:

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the Bigger Pockets REI Summit on Friday and Saturday, March 23 and 24, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the Inland Empire Investors Forum on Tuesday, March 27, 2012.

Looking Back:

The Commerce Department said single-family home sales dropped 16.9% in February 2011.  However, a survey from Bloomberg showed many economists believed home sales probably increased in February. Mortgage applications increased 2.7% the previous week, according to the MBA.

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.