The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘mortgage loans’

By Bruce Norris .

The Norris Group Real Estate News Roundup 12/06/12

Thursday, December 6th, 2012

Today’s News Synopsis:

The Mortgage Bankers Association reported delinquency rates for commercial and multifamily mortgage loans decreased in the third quarter.  Short sales and pre-foreclosure sales showed a 15% and 17% increase in the third quarter according to RealtyTrac.  Freddie Mac reported 30-year mortgage rates increased ever so slightly to 3.34%.

In The News:

DS News- “RealtyTrac: Short Sales, Pre-Foreclosure Sales Increase in Q3″ (12-6-12)

“Although short sales continue to be utilized more and more as an alternative to foreclosure, RealtyTrac suggested the trend may change if the Mortgage Debt Relief Act of 2007 does not get extended.”

Mortgage Bankers Association- “Commercial/Multifamily Mortgage Delinquency Rates Down in Third Quarter” (12-6-12)

“Delinquency rates decreased for commercial and multifamily mortgage loans in the third quarter, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”

Realty Times- “Unusual ‘Perfect Storm’ Threatens Housing Recovery” (12-6-12)

“It’s not just the fiscal cliff that poses a threat to the recovering housing market.  Toss in winter weather that could bring another nasty climatic event like Hurricane-Tropical Storm Sandy – except with the white stuff – and you’ve got a two-headed perfect storm that could really stall the housing recovery.”

NAHB- “Number of Improving Housing Markets Surges to 201 in December” (12-6-12)

“The number of housing markets considered “improving” according to parameters established by the National Association of Home Builders/First American Improving Markets Index (IMI) surged by 76 to a total of 201 metros in December, according to IMI data released today.”

Housing Wire- “Donovan outlines FHA recovery plans to avoid Treasury draw” (12-6-12)

“Housing and Urban Development Secretary Shaun Donovan testified before the Senate Banking, Housing and Urban Affairs Committee following the Federal Housing Administration’s actuarial report on Thursday to address the necessary steps that need to be taken in 2013 to avoid a first-time Treasury draw.”

Los Angeles Times- “Freddie Mac says typical 30-year mortgage rate up a hair at 3.34%” (12-6-12)

“Mortgage interest rates edged higher from record lows this week, with lenders offering the 30-year fixed loan to solid borrowers at an average of 3.34%, Freddie Mac said in its latest survey.”

DS News- “NJCC Selected to Buy 399 Distressed Loans Through HUD Program” (12-6-12)

“New Jersey Community Capital (NJCC) was selected as part of HUD’s Distressed Asset Stabilization Program (DASP) to purchase 399 troubled loans, the nonprofit announced Tuesday.”

DS News- “Radian Reports November Delinquencies” (12-6-12)

“Radian Guaranty Inc. reported it wrote $3.84 billion in new mortgage insurance in November.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $84,000 on a 3 bedroom, 2 bathroom home appraised for $140,000.

 

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 Bloomberg news, Bannk of America reached a settlment with investors from whom they faced a lawsuit, agreeing to pay $315 million.  Pending home sales increased in October 2011 according to the National Association of Realtors.  Fifteen euro currency union members were reviewed by Standard & Poors to see if they would be downgraded.

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 10/10/12

Wednesday, October 10th, 2012

Today’s News Synopsis:

The Mortgage Bankers Association reported a 1.2% decrease in mortgage applications from last week in their latest Weekly Mortgage Applications Survey.  Wells Fargo is facing a lawsuit for losses caused by improper mortgage loans.  The FHFA revised their Strategic Plan for 2013-2017 from the original plan presented to Congress last February.


In The News:

Bloomberg- “U.S. Files Civil Mortgage Fraud Suit Against Wells Fargo” (10-9-12)

“Wells Fargo & Co. (WFC) was sued by the U.S. for hundreds of millions of dollars in damages over claims the bank made reckless mortgage loans that caused losses for a federal insurance program when they defaulted.”

DS News- “FHFA Releases Updated Strategic Plan” (10-10-12)

“The Federal Housing Finance Agency released a revised Strategic Plan for the years 2013 through 2017 Tuesday.”

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

“Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 5, 2012.”

Los Angeles Times- “Mortgage modification scam watchdog cheers federal crackdown” (10-10-12)

“Since early 2010, a leading civil rights group has helped compile a database of approximately 26,000 complaints about mortgage modification scams — attempts by fraudsters to take advantage of those hardest hit by the housing market meltdown.”

CNN Money – “Teaching jobs finally coming back” (10-10-12)

“After four years of layoffs, teaching jobs are finally coming back. Public school hiring rose this summer to its highest level in six years. ”

Inman- “Coldwell Banker recognized for professional development programs” (10-10-12)

“Coldwell Banker Real Estate LLC is winning recognition for its professional development programs, taking home a gold award from Chief Learning Officer magazine’s “Learning in Practice Awards” and two silvers from the Brandon Hall ‘Excellence in Learning Awards’.”

Bloomberg – “Obama-Fueled Mortgages Boost Profit at U.S. Home Lenders” (10-10-12)

“Wells Fargo & Co. (WFC) and JPMorgan Chase & Co. (JPM), the largest U.S. home lenders, will post third-quarter profit buoyed by government policies intended to help borrowers”

Housing Wire – “MBA ready to defend mortgage interest deduction” (10-10-12)

“David Stevens, president and CEO of the Mortgage Bankers Association, said his trade group stands ready to advocate for the survival of the mortgage interest deduction, but it’s too early to react to political slogans about ending the popular tax deduction.”

DS News – “Distressed Sales Interfere with Accurate Appraisals: NAR” (10-10-12)

“Inflated appraisals were identified as one of the causes of the housing bubble, and now undervalued appraisals are viewed as a reason for a stalled recovery.”

Housing Wire – “Ellie Mae, DocMagic finally settle three-year lawsuit” (10-10-12)

“Mortgage lender software provider DocMagic has ended a three-year lawsuit against Ellie Mae ($0.00 %) over allegations that Ellie created a competing software product using information from DocMagic’s own system.”

DS News – “FTC Alleges Equifax ‘Improperly’ Sold Information on Late Borrowers “ (10-10-12)

“Equifax and its customers reached separate settlements with the FTC, agreeing to pay a total of $1.6 million for improper sale of consumer credit information.”

Hard Money Loan Closed

Victorville, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $65,000 on a 3 bedroom, 2 bathroom home appraised for $110,000.

 

Bruce Norris of The Norris Group will be at the Apartment Owners Association in Los Angeles on Wednesday, October 17, 2012.

The Norris Group is holding its fifth annual I Survived Real Estate 2012 in Yorba Linda on Friday, October 19, 2012.

Bruce Norris of The Norris Group will be at the OC Investors Club in Tustin on Friday, October 26, 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 6/14/11

Tuesday, June 14th, 2011

Today’s News Synopsis:

Inman News reported that Zillow has updated their database to increase the number of properties and decrease their margin of error to 8.5%.  RE/MAX is optimisting of a recovering economy as they reported positive statistics for home sales.  Rismedia reported that HUD awarded $31 million in grants towards helping residents look for jobs and become self-sufficient. 

In The News:

Housing Wire – “Investors reselling foreclosures quicker than banks in wake of robo-signing fiasco” (6-14-11)

“The foreclosure slowdown after the robo-signing scandal surfaced late in 2010 gave investors an advantage over banks when reselling these properties.”

Inman - “Slowdown in foreclosures affecting inventories?” (6-14-11)

“The flow of homes into the foreclosure pipeline is slowing in five Western states tracked by ForeclosureRadar.com, but lenders are also canceling fewer foreclosures once they’re under way. ”

Bloomberg - “BofA ‘Significantly Hindered’ Foreclosure Review, U.S. Says” (6-14-11)

“Bank of America Corp. (BAC), the largest U.S. lender, “significantly hindered” a federal review of its foreclosures on loans insured by the Federal Housing Administration, the U.S. said.”

RisMedia – “HUD Awards $31 Million to Promote Jobs and Self-Sufficiency for Public Housing Residents” (6-14-11)

“The U.S. Department of Housing and Urban Development recently awarded more than $31 million in grants to public housing authorities, resident associations and non-profit organizations across the U.S. to help public housing residents connect to services available in the community to find employment to increase their economic independence.”

Housing Wire - “Positive monthly housing stats point to recovery: RE/MAX” (6-14-11)

“Home sales are trending positively on a monthly basis, according to the RE/MAX May housing report, a sign the market bottomed out at the beginning of 2011.”

Inman - “Zillow grows database, boosts ‘Zestimate’ accuracy” (6-14-11)

“Property search and valuation site Zillow has expanded its property database and improved the accuracy of its “Zestimate” home valuations, the site announced today.”

NAHB - “Voters Strongly Support Politicians who Embrace Pro-Housing Policies, Mortgage Deduction, Poll Finds” (6-14-11)

“Nearly three out of four American voters believe that it is reasonable and appropriate for the federal government to provide tax incentives to promote homeownership, a sentiment that cuts across partisan and regional lines across the country, according to a recent poll conducted on behalf of the National Association of Home Builders (NAHB).”

DS News - “Fannie Mae Extends Selling Agent Bonus to Move REO Properties” (6-14-11)

“Fannie Mae announced Tuesday that it is beefing up incentives to encourage sales of its HomePath REO properties to owner occupants.”

Looking Back:

Christopher Cagan from First American predicted a dip in housing prices in the near future. A study from Harvard University showed that high unemployment was fueling the foreclosure crisis. Christopher Thornberg of Beacon Economics believeed the recession was currently, but he expected economic conditions to get worse over the next two years. REIS Inc predicted U.S. apartments would lead a rebound in commercial real estate.

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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