Today’s News Synopsis:
In The News:
Housing Wire – “CoreLogic: Home prices rise 6.8% in October” (12-1-15)
“Home prices nationwide, including distressed sales, increased by 6.8% in the month of October when compared with one year ago, according to CoreLogic’s (CLGX) latest Home Price Index.”
Mortgage Bankers Association – “Commercial/Multifamily Delinquencies Continue Decline” (12-1-15)
“Delinquency rates for commercial and multifamily mortgage loans continued to decline in the third quarter of 2015, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”
Realty Trac – “The Two Faces of Real Estate” (12-1-15)
“It’s hard to look at 2015 and think that real estate has had anything but a banner year and yet there are persistent murmurs in the marketplace that we’re not quite there yet, wherever “there” might be.”
Mortgage Professional America – “Delinquency fears warranted?” (12-1-15)
“One advocacy group is calling for more scrutiny around who is obtaining loans, but are those concerns exaggerated? Delinquency fears warranted? “I think lending standards are healthy right now,” Steven Balazic, a mortgage specialist with New Penn Financial, told Mortgage Professional America.”
DS News – “Fannie Mae’s Mortgage Portfolio Continues Rapid Contraction” (12-1-15)
“Fannie Mae’s gross mortgage portfolio contracted for the seventh consecutive month in October and the eighth time in 10 months year-to-date in 2015, according to Fannie Mae’s October 2015 Monthly Volume Summary.”
Housing Wire – “Genworth survey: Compliance with TRID still weighs heavily on housing industry” (12-1-15)
“As we approach the two-month anniversary of the implementation of the Consumer Financial Protection Bureau’s Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures rule, concerns over complying with the TRID rules are still weighing heavily on mortgage industry professionals, a new survey showed.”
Mortgage Bankers Association – “MBA’s Mortgage Action Alliance Launches New Advocacy Action Center” (12-1-15)
“Today, the Mortgage Bankers Association’s (MBA) Mortgage Action Alliance (MAA) launched a new grassroots advocacy action center designed to help people better engage policymakers and stay informed about key policy and regulatory decisions regarding the real estate finance industry.”
Mortgage Professional America – “Despite rising prices, Fed keeps lid on loan backing” (12-1-15)
“While the decision won’t affect most – with the median home price in most parts of the U.S. pegged at $219,600 – it will have an impact on markets with fast-rising home values, such as California.”
DS News – “Third-Party Service Providers Progressing Despite Heavy Regulatory Scrutiny” (12-1-15)
“The last several years have been painful for many of the third-party service providers to the mortgage loan industry. The OCC Bulletin 2013-29, CFPB Bulletin 2012-03, and Federal Consent Orders represent only a few of the significant regulatory impacts on these service providers and the mortgage industry. With all of the oversight scrutiny, there has been progress made.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDCIA on Tuesday, December 8.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
Image copyright source: www.flickr.com/photos/dragontomato
With fewer people wanting to keep the HARP program and mortgage interest continuing to stay low, refinance volume continued to to increase. Private debt was also continuing to increase, which in turn was preventing the housing market from continuing to improve. At the same time, more people were demanding home renovation as home values continued to increase and housing inventory continued to age.
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.