The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘Mortgage Daily’

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“In many respects, our housing system is outdated and not equipped to keep pace with today’s demands and the challenges of the imminent future, the Bipartisan Policy Center’s Housing Commission (BPC) wrote in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

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The Norris Group Real Estate News Roundup 1/8/13

Tuesday, January 8th, 2013

Today’s News Synopsis:

The number of improving markets increased drastically this month and is now at 242.  The number of closures for mortgage related businesses was less in 2012 at only 82.  The IRS announced they will begin accepting tax returns as early as the end of this month.

In The News:

Bloomberg- “BofA Escaping Countrywide Helps Moynihan Build: Mortgages” (1-8-13)

“Bank of America Corp. yesterday struck deals to settle lending complaints, sell rights to service $300 billion of mortgages and repair relations with regulators. For Chief Executive Officer Brian T. Moynihan, it offers his best chance to rebuild the home lending business.”

Inman- “Re/Max takes control of franchising in Texas” (1-8-13)

“Denver-based franchisor Re/Max LLC will now have the right to sign up Re/Max franchisees in Texas after taking ownership of the “master franchise” region.”

DS News- “Number of Improving Markets Spikes in January, Hits 242″ (1-8-13)

“The National Association of Home Builders (NAHB)/ First American Improving Markets Index (IMI) continued its trend of marked monthly improvements in January, according to a release from the NAHB.”

CNN Money – “IRS will accept tax returns starting Jan. 30″ (1-8-13)

“The Internal Revenue Service will start processing tax returns for the vast majority of filers on Jan. 30. The agency had planned to open the tax season on Jan. 22, but had to push back the date because Congress took until New Year’s Day to pass needed tax provisions.”

Housing Wire- “Fitch: QM and QRM resolution will restart private RMBS market” (1-8-13)

“The recent announcement by the Consumer Finance Protection Bureau’s intention to issue a final rule on the ability to repay requirement as part of the final Qualified Mortgage definition are key milestones for the private-label residential mortgage-backed securitization market.”

DS News- “Mortgage Daily: Mortgage Business Closings Finish 2012 at 82″ (1-8-13)

“Fewer businesses in the mortgage industry went under in Q4 2012, according to data from Mortgage Daily.”

Bloomberg- “NYC Midtown South Office-Vacancy Rate Rises as Rents Jump” (1-8-13)

“The office-vacancy rate in New York’s midtown south climbed for a fourth straight quarter as rents rose faster than some of the area’s technology and media tenants could pay, Cushman & Wakefield reported.”

Hard Money Loan Closed

Rancho Cucamonga, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $136,000 on a 3 bedroom, 2 bathroom home appraised for $310,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at SocalREIA on Thursday, January 10, 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 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.

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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The Norris Group Real Estate News Roundup 11/26/12

Monday, November 26th, 2012

Today’s News Synopsis:

Pending home sales increased in California last month 4.3% month-over-month and 3.6% year-over-year.  Jobs in the mortgage increased by 3,000 in the third quarter.  Home values showed their twelfth straight month of increases last month  and are now at $155,400.

In The News:

DS News- “October Marks 12 Months of Home Value Increases” (11-26-12)

“October marks the 12th consecutive month of monthly home value increases, according to Zillow, which reported a 1.1 percent increase over the month.”

Realty Times- “Real Estate Outlook: Ever-changing Housing Market “ (11-26-12)

“The dynamic and ever-changing housing market has experienced a shift in demographic over the last few years.  First, as the housing market felt the shock of the bubble burst all-cash buyers entered the scene and first-time buyers held back, waiting out the market hitting bottom.”

Bloomberg – “Home Equity Loans Make Comeback Fueling U.S. Spending” (11-26-12)

“Home equity lines of credit that fueled a spending spree during the U.S. property boom are back.  After six years of declines, lending for so-called Helocs will rise 30 percent to $79.6 billion in 2012, the highest level since the start of the financial crisis in 2008, according to the economics research unit of Moody’s Corp.”

DS News- “Mortgage Industry Sees More Job Gains than Losses in Q3″ (11-26-12)

“Hiring in the mortgage industry increased in Q3 for the fifth straight quarter, according to Mortgage Daily’s Mortgage Employment Index.”

Housing Wire- “Florida property investments bring more mortgage fraud” (11-26-12)

“Florida is seeing high levels of mortgage fraud, especially in relation to investment properties.”

Bloomberg- “UBS Leads Wall Street Bid to Halt FHFA Mortgage-Bond Suit” (11-26-12)

“UBS AG (UBS) is seeking to block a U.S. lawsuit over billions of dollars in mortgage bonds in a case that may set back government efforts to recover losses Fannie Mae and Freddie Mac incurred in the housing crash.”

DS News- “California Pending Home Sales Rise Monthly and Yearly” (11-26-12)

“Pending home sales in California rose in October from the previous month and year—an occurrence that has not happened in seven months.”

Housing Wire- “Atlanta Fed graphs show regional housing demand outstrips mortgage financing” (11-26-12)

“Even though mortgage brokers and homebuilders report stronger home sales in the Southeast, mortgage financing remains short of demand in the region for October, according to senior analyst Whitney Mancuso of the Federal Reserve Bank of Atlanta.”

Hard Money Loan Closed

Los Angeles, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $105,000 on a 2 bedroom, 1 bathroom home appraised for $207,000.

 

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.

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.

 

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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The Norris Group Real Estate News Roundup 7/9/12

Monday, July 9th, 2012

Today’s News Synopsis:

Another bank closed in Georgie, bringing the total now to 32.  However, the bigger news is that the bank closed and the director disappeared after accusations of embezzlement and fraud.  Optimism in the housing market increased for the month of June despite confidence being unsteady.  Foreclosure starts increased 2.8% from last year according to the Lender Processing Services.


In The News:

Los Angeles Times – “Inland Empire industrial real estate market is looking up”  (7-8-12)

“The industrial real estate market in the Inland Empire’s east valley, where many international companies have distribution hubs, is in full recovery, real estate brokers said.”

Housing Wire – “LPS: Foreclosure starts up 2.8% from one year ago” (7-9-12)

“Mortgage servicers started more foreclosures in May than a year ago, the first year-over-year increase since early 2011, according to Lender Processing Services ($25.32 -0.15%) data.”

DS News – “June Sees Housing Confidence Boost in Spite of Economic Worries” (7-9-12)

“Downturns in economic confidence hasn’t shaken consumers’ optimism in the housing market, Fannie Mae’s National Housing Survey for June showed.”

Realty Times – “Housing to Play Key Role in Election” (7-9-12)

“Washington and the housing market are never far apart. Experts ranging from real estate professionals to the members of the Federal Reserve have reported that the state of the nation’s economic recovery relies heavily on a housing recovery.”

DS News – “Mortgage-Related Business Closings Down from Year Ago: Mortgage Daily” (7-9-12)

“Fewer mortgaged-related businesses had to shut down their doors during the first six months of this year compared to the same time period a year ago in 2011, according to the Mortgage Graveyard report released by Mortgage Daily.”

NAHB – “84 Metros Listed As Improving Housing Markets in July” (7-9-12)

“The list of U.S. housing markets showing measurable and sustained improvement rose by four to include 84 metros in July, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today.  This number includes representatives from 32 states plus the District of Columbia.”

Housing Wire – “Fitch sees no sign of strategic default for rising principal reductions” (7-9-12)

“Few, if any, borrowers strategically defaulted to take advantage of mortgage servicer relief under the $25 billion settlement struck in March, according to Fitch Ratings.”

DS News – “Georgia Bank Closes After Director Disappears” (7-9-12)

“The FDIC announced Friday the closure of Montgomery Bank & Trust in Ailey, Georgia, after the disappearance of the bank’s director.”

CNN Money – “Overpaid unemployment benefits top $14 billion” (7-9-12)

“Don’t spend that unemployment check too fast. The government might ask you to pay it back.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $73,000 on a 3 bedroom, 2 bathroom home appraised for $123,000.

 

Bruce Norris of The Norris Group will be at the AREAA 2012 Home Buyer & Real Estate Investment Fair Saturday, July 21, 2012.

Bruce Norris of The Norris Group will be at the InvestClub for Women in Los Angeles Tuesday, September 18, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at the InvestClub for Women in Orange County Wednesday, September 19, 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.

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The Norris Group Real Estate News Roundup 4/9/12

Monday, April 9th, 2012

Today’s News Synopsis:

Sales of investment and vacation properties increased considerably in 2011, according to the National Association of Realtors.  Despite the number of new jobs falling below expectations last month, the number of people searching for jobs and part-time workers searching for full-time work was actually at its lowest in three years.  Fannie and Freddie backed mortgage bonds linked to apartments is also at a record high.

In The News:

Realty Times – “Real Estate Outlook: Vacation Sales Surge” (4-9-12)

“According to the National Association of Realtors’ 2012 Investment and Vacation Home Buyers Survey, there was a surge in sales of both investment in vacation homes in 2011.”

Housing Wire – “Delinquent properties redraw regional real estate” (4-9-12)

“The overhang of distressed properties and strength of the regional economy will cause various housing markets over the next few years to look increasingly different.”

CNN Money – “Silver lining in weak jobs report – underemployment” (4-9-12)

“Friday’s March jobs report was widely seen as a big disappointment, but there was one key aspect in it that showed a big improvement.  The so-called underemployment rate, which counts jobless people looking for work, part-time workers who need full-time jobs and discouraged job seekers, fell to a three-year low of 14.5% from 14.9% in February.”

DS News – “Mortgage Litigation Reaches All-Time High, Mortgage Daily Reports” (4-9-12)

“Mortgages are becoming more and more of a litigious matter, with the number of mortgage-related cases reaching an all-time high, according to Mortgage Daily’s 2011 fourth quarter Mortgage Litigation Index, which first began in 2007.”

Bloomberg – “Multifamily Bonds Surging to Record U.S. as CMBS Fade: Mortgages” (4-9-12)

“Bonds backed by Fannie Mae and Freddie Mac tied to apartments soared to a record as the government-supported mortgage companies made low-cost loans on rental properties amid a continued slide in home values.”

San Francisco Chronicle – “U.S. Stock-Index Futures Decline as Jobs Report Misses Estimates” (4-9-12)

“U.S. stock futures fell, signaling more Standard & Poor’s 500 Index losses following the biggest weekly retreat of the year, after American employers added fewer jobs than forecast in March.”

Housing Wire – “Clear Capital predicts modest home price gains for 2012″ (4-9-12)

“Ally Financial made another dividend payment to its largest shareholder — the federal government.  The Treasury Department will receive $134 million as part of the quarterly payment, Ally said Monday. The Detroit-based bank made a similar payment in January to the Treasury, which owns 73.8% of company stock.”

DS News – “FHA Delaying Disputed Debt Rule Until July” (4-9-12)

“The FHA rule preventing potential borrowers with outstanding collections debt of $1,000 or more from getting an FHA-insured loan is on hold until July 1.”

Inman – “Lenders settle discrimination claims by new, expectant moms” (4-9-12)

“Lenders can’t deny mortgage loans to women solely because they are pregnant or on temporary maternity leave, federal regulators said in announcing settlements with two lenders who were accused of doing so.”

Hard Money Loan Closed

Taft, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $52,000 on a 3 bedroom, 1 bathroom home appraised for $85,000.

California Real Estate Investor Events:

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at The Women’s Council of Realtors Victorville on Wednesday, April 11, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at All In or Fold on Saturday, April 28, 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.

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The Norris Group Real Estate News Roundup 3/28/12

Wednesday, March 28th, 2012

Today’s News Synopsis:

Conflicting reports have come out about the housing market with Standard and Poor’s reporting a 5-month decline in prices, while John Burns Real Estate Consulting actually reported an increase in home prices.  Foreclosures initiated by banks decreased 16% in the fourth quarter according to the Office of the Comptroller of the Currency.  A recent survey from the Mortgage Bankers Association showed a 2.7% decrease in mortgage applications from last week.

In The News:

DS News – “Home Prices Have Been Rising for Three Months: Report” (3-27-12)

“Standard & Poor’s reported Tuesday that it’s closely watched Case-Shiller index declined in January for the fifth straight month, with both the 10-city and 20-city composite readings slipping 0.8 percent from December.  But according to John Burns Real Estate Consulting (JBREC), that’s stale news and doesn’t reflect what’s actually happening in the market right now. In fact, the independent research company says home prices are rising.”

Housing Wire – “Foreclosure initiations declined in 4Q: OCC” (3-28-12)

“The number of foreclosures launched by banks and financial firms registered with the Office of the Comptroller of the Currency fell 16% in the fourth quarter to 292,173, the agency said Wednesday. Compared to levels from a year earlier the number is down 17.9%, the federal regulator said.”

DS News – “Experts Expect to See Broad Improvements, Home Prices to Rise in 2013″ (3-28-12)

“The Urban Land Institute released its Real Estate Consensus Forecast Wednesday morning, and overall, the 38 real estate economists and analysts surveyed projected broad improvements for the economy.”

Bloomberg – “Private Lenders Forgive Home Debt as U.S. Lenders Balk” (3-28-12)

“Non-government holders of delinquent mortgages are offering more payment plans with debt forgiveness as Fannie Mae (FNMA) and Freddie Mac resist, according to the U.S. Office of the Comptroller of the Currency.”

Housing Wire – “Freddie Mac economist sees housing emerging from winter dormancy” (3-28-12)

“A variety of encouraging indicators suggest the housing market is awakening, “much like the garden flora reemerging from their winter dormancy,” Frank Nothaft, Freddie Mac chief economist said Wednesday.”

Bloomberg – “Subprime Bulls Trim Bets as Rally Raises 2011 Specter: Mortgages” (3-28-12)

“A rally in the mortgage securities that blew up in the crash of 2008 is leading firms to trim bets in the $1.1 trillion market for home-loan bonds without government backing after similar gains a year ago evaporated.”

Mortgage Bankers Association- “Refinance Applications Drop for Sixth Consecutive Week” (3-28-12)

“Mortgage applications decreased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 23, 2012.  The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7 percent on a seasonally adjusted basis from one week earlier.”

Los Angeles Times – “Vegas home sales surge as cash buyers flood market” (3-28-12)

“Las Vegas-area home sales are on the mend as cash rules supreme.  The long-suffering Las Vegas housing market last month had its strongest sales for a February in six years, according to San Diego real estate research firm DataQuick.”

DS News – “Little Change in Performance of Servicers, OCC Reports” (3-28-12)

“Overall, little change was reported in the performance of first-lien mortgages serviced by national and federal savings banks during the 2011 fourth quarter, but the percentage of initiated foreclosures did see a steep drop, according to the Office of Comptroller of the Currency (OCC) Mortgage Metrics report.”

Bloomberg – “Redwood Sells Fifth Mortgage Bonds Since 2008 as Sales Thaw” (3-28-12)

“Redwood Trust Inc. (RWT) sold bonds tied to about $325 million of new home loans in the fifth offering of securities without government backing since the market froze in 2008, according to a person with knowledge of the transaction.”

Inman – “Charting U.S. real estate desires of Canadian buyers” (3-28-12)

“Homebuyers from Ontario — Canada’s wealthiest and most populous province — were among the most active in 10 U.S. real estate markets identified as international hot spots in an Inman News report released this month.”

Realty Times – “Mortgage Applications for FHA Loans Increase Ahead of Higher Fees” (3-28-12)

“It is not unusual for mortgage applications to increase during the spring season since more people begin to house hunt during that time. According to the U.S. Mortgage Market Index report from Mortech, Inc. and Mortgage Daily, activity for FHA loans increased 11 percent from the previous week.”

Hard Money Loan Closed

Perris, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $90,000 on a 3 bedroom, 2 bathroom home appraised for $150,000.

California Real Estate Investor Events:

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at The Women’s Council of Realtors Victorville on Wednesday, April 11, 2012.

The Norris Group posted a new event. Bruce Norris of The Norris Group will be at All In or Fold on Saturday, April 28, 2012.

Looking Back:

Pending home sales increased by 2.1%, according to the NAR. Interthinx claimed California’s fraud risk decreased in 2010. A cash for keys program was proposed to Congress members, but was been strongly ridiculed. California had the largest gain in construction jobs in the nation during February 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.

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