The Norris Group Blog

California Real Estate Headline Roundup

Posts Tagged ‘Office of the Comptroller of the Currency’

« Older Entries

By Bruce Norris .

The Norris Group Real Estate News Roundup 5/20/13

Monday, May 20th, 2013


Today’s News Synopsis:

The OCC announced that as of May 16 over 2.4 million foreclosure review checks valued at $2.2 billion have been cashed.  The Center for Responsible Lending expressed objection to H.R. 1077 (Consumer Mortgage Choice Act) citing it would force borrowers to take out more expensive loans and lead to higher loan costs and fees.  The NAHREP said immigration could be a big contributing factor to helping the housing market grow.

In The News:

Housing Wire - “Housing will reaccelerate economic growth: Fannie Mae” (5-20-13)

“The year’s solid economic start faded late in the first quarter, but the recent setback is a temporary one, analysts claim.”

DS News – “OCC: More than 2.4M Foreclosure Review Checks Cashed” (5-20-13)

“In its most recent update on the status of foreclosure review checks, the Office of the Comptroller of the Currency (OCC) announced more than 2.4 million checks valued at $2.2 billion have been cashed or deposited as of May 16.”

Housing Wire – “Housing begins to directly contribute to economy” (5-20-13)

“The housing sector may finally become a direct and meaningful contributor to U.S. economic growth in 2013 and beyond, according to NewOak CEO and Co-Founder Ron D’Vari.”

Inman - “NAHREP: Immigration reform would boost housing” (5-20-13)

“Proposed immigration reform could pump more than half a trillion dollars into the U.S. economy by paving the way for about 3 million Hispanics to buy homes over a five-year period, according to an estimate released by the National Association of Hispanic Real Estate Professionals (NAHREP).”

DS News - “CRL Warns Against Consumer Mortgage Choice Act” (5-20-13)

“The Center for Responsible Lending (CRL) again voiced its opposition to legislation that would amend the Truth in Lending Act (TILA) to exclude certain factors when calculating points and fees for determining qualified mortgage (QM) eligibility.”

Housing Wire - “Investors should strike on agency MBS, but remain cautious: BofAML” (5-20-13)

“The lull in April’s volatility proved to be the calm before the storm, particularly in agency mortgage-backed securities, analysts suggested.”

DS News - “MBA Proposes ‘Up-Front Risk Sharing’ Concept for Mortgage Market” (5-20-13)

“The Mortgage Bankers Association (MBA) shared a proposal that it says would bring private capital back into the mortgage market while decreasing costs for taxpayers and borrowers.”

Hard Money Loan Closed

Moreno Valley, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $106,000 on a 3 bedroom, 2 bathroom home appraised for $154,000.

 

Bruce Norris of The Norris Group will be presenting How to Make a Million in the Next 24 Months in Orange on Saturday, June 1, 2013.

Bruce Norris of The Norris Group will be presenting his Free Pre-Event Webinar for California Comeback 2: Fast, Furious & Dangerous with Chino Valley on Friday, June 7, 2013.

Bruce Norris of The Norris Group will be speaking at the Cutting Edge Financial Tactics Brunch in Costa Mesa on Saturday, June 8, 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 5/10/13

Friday, May 10th, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The OCC reported that 2.2 million out of 3.9 million foreclosure review checks sent out have been cashed.  Home prices in metropolitan areas continue to increase according to the NAR and are continuing to stay consistent.

In The News:

Housing Wire - “Bernanke: Homeowners remain shaken, financial oversight improves” (5-10-13)

“With the economy four years beyond the most intense part of the financial crisis, traces of its aftermath remain.  As a result, the Federal Reserve has made efforts by greatly increasing the resources devoted to monitoring the financial markets as well as taking a more systematic and intensive approach, said Ben Bernanke, chairman of the Federal Reserve, on Friday at the Federal Reserve Bank of Chicago Conference.”

DS News – “REO, Short Sale Fraud Continue to Evolve” (5-10-13)

“Most mortgage fraud takes place in the short sales and REO space, according to Rob Hagberg, associate director of fraud investigations at Freddie Mac. “This area is ripe with fraud,” he said during a webinar hosted by CoreLogic.”

Realty Times – “Consumers Confused About Credit Counseling” (5-10-13)

“Counseling, whether it be for homeownership, foreclosure, credit, bankruptcy or other financial issues, is supposed the clear the air and prepare consumers for a given financial condition.”

Housing Wire - “Obama Scorecard details loss mit actions” (5-10-13)

“The Obama Administration’s foreclosure mitigation programs provided relief to millions of distressed borrowers recovering from the housing market over the past four years.”

DS News - “More than 2.2M Foreclosure Review Checks Cashed, 3.9M Sent” (5-10-13)

“As the stream of foreclosure review settlement checks continue to be released, the Office of the Comptroller of the Currency (OCC) provided another update on the status of the checks’ whereabouts.”

CNN Money - “Where the mortgage deduction really pays” (5-10-13)

“The mortgage interest deduction is one of the most expensive tax breaks on the books, but its benefits are distributed unevenly across the country, according to a new report by the Pew Charitable Trusts.”

Housing Wire - “Twin Cities home prices soar” (5-10-13)

“The Twin Cities metropolitan area, which includes the cities of Minneapolis and St. Paul, continues to see rapid year-over-year home price appreciation as the market experiences a mix of higher listings and more consumers searching for inventory as sellers re-enter the market.”

DS News - “NAR: Metro Area Home Price Gains Stay on Course in Q1″ (5-10-13)

“Metro areas continued to post price gains in the first quarter, rising alongside national median price increases, the National Association of Realtors (NAR) reported.”

Hard Money Loan Closed

San Bernardino, 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 $156,000.

 

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Chino Valley on Friday, May 17, 2013.

Looking Back:

Mortgage rates were at their lowest on record for the second week in a row at 3.8% for 30-year loans.  Builder confidence increased in the first quarter according to the NAHB.  Jobless claims decreased by 1,000 to 367,000 for the week ended May 5.  The lawsuit between the FHA and Deutsche Bank was finally settled over $200 million.

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 5/3/13

Friday, May 3rd, 2013



Sources:

Today’s News Synopsis:

This week’s video is a slideshow of a few big news stories of the week.  Employment for the the 18-34 year old demographic decreased 75.2% in December, making it only a little higher than it was last year.  This occurred despite the unemployment rate decreasing 7.5% month-over-month.  The home ownership rate continues to decline with the increase in foreclosures and stricter lending standards.

In The News:

Housing Wire - “April job gains dampened by weaker outlook for young Americans” (5-3-13)

“Despite overall growth in the employment situation in the month of April, employment for 18- to 34-year olds slipped to 75.2% from 75.6% in December, creating the potential for drag on the housing market.”

DS News – “Tight Lending, Foreclosures to Prompt Homeownership Declines” (5-3-13)

“With the homeownership rate already at its lowest point since 1995, Capital Economics predicts further decline before a rebound occurs.”

CNN Money – “Obama’s pick for housing agency head faces big headaches” (5-3-13)

“The next head of the Federal Housing Finance Agency will have quite the task waiting.  President Obama nominated Mel Watt, a Democratic congressman from North Carolina, this week to be the next head of the FHFA. Should Watt be confirmed by the Senate, he will play a critical role in shaping the future of the U.S. housing market.”

Housing Wire - “Carol Galante: FHA multifamily volume production nears its peak” (5-3-13)

“Federal Housing Administration Commissioner Carol Galante told HousingWire in an exclusive interview that the FHA’s multifamily refinancing volume is most likely at its peak, with low interest rates encouraging refis on existing loans insured by agency.”

DS News - “Fourth Round of Foreclosure Review Checks Sent, Bringing Total to 3.9M” (5-3-13)

“The Office of the Comptroller of the Currency (OCC) announced the fourth round of checks from the foreclosure review settlement was sent Friday, May 3.”

Inman - “Home construction continues to add jobs” (5-3-13)

“Builders continued to hire more workers in April, though employment among an age cohort important to household formation slipped, according to today’s jobs report, which showed more overall growth than expected.”

Housing Wire - “Nevada lawmakers push for local Homeowner Bill of Rights” (5-3-13)

“The California Homeowner Bill of Rights shifted how foreclosure attorneys, banks and homeowners view the default process in the state.”

DS News - “Payrolls Up 165k in April; Unemployment Rate Drops to 7.5%” (5-3-13)

“The economy added 165,000 jobs in April—rebounding from a weak report for March—and the unemployment rate dropped to 7.5.percent, its lowest level since December 2008, the Bureau of Labor Statistics reported Friday.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $55,000 on a 3 bedroom, 2 bathroom home appraised for $107,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with Asian REIA on Wednesday, May 15, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Looking Back:

According to a recent survey released by Freddie Mac, fixed mortgage rates were at their lowest on record with 30-years at 3.84% and 15-years at 3.07%.  First time claims for unemployment decreased by 27,000 the previous week according to the Labor Department.  Mortgage servicers also reported filing less than half the number of mortgage modifications they filled out the previous year for Freddie Mac loans.

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 4/19/13

Friday, April 19th, 2013



Sources:

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The amount of homes flipped in California increased by almost three times the amount from last year and are now at their highest level since September 2005.  According to a recent announcement by the OCC, the second wave of foreclosure checks was sent out last week.

In The News:

Housing Wire - “The gap between large and small homebuilders widens” (4-19-13)

“The 14% increase in land values during the first three quarters of 2012 was four times greater than the rise in house prices, Capital Economics said in a new report.”

CNN Money - “Inflation is very, very low. Time to worry?” (4-19-13)

“Prices aren’t going up very much. Should we celebrate?  Not really. Inflation that’s too low could be a bad sign for the U.S. economy, and some Federal Reserve officials are starting to get concerned.”

DS News – “California Flipping Activity at Highest Level Since 2005″ (4-19-13)

“Real estate sales have been weakening in California, but ForeclosureRadar found flipping activity in the state reached its highest level since September 2005.”

Bloomberg – “Deutsche Bank Loan Signals Rental Home Bond Dreams” (4-19-13)

“Deutsche Bank AG (DBK) is moving closer to turning U.S. rental home payments into bonds, which would be one of the first new types of securitization since the 2008 credit crisis, and pave the way for an infusion of capital.”

Realty Times - “Welcome Back Vacation Homes” (4-19-13)

“Vacation home sales improved in 2012 by 10 percent and the outlook for second-home sales continues to look good because of favorable conditions, according to the National Association of Realtors.”

Housing Wire - “FDIC sues Florida law firm over failed bank” (4-19-13)

“Several law firms in Florida became the center of an intense attorney generals investigation after the financial crisis for their handling of foreclosures.”

Inman - “Census Bureau infographic shines light on home investment” (4-19-13)

“The Census Bureau has released an infographic that illustrates the level of commitment among many homeowners to improving their homes, highlighting some of the most common-remodeling projects and tallying up $359 billion in total investments from 2009 through 2011.”

DS News - “Second Wave of 1.4M Foreclosure Review Checks Sent” (4-19-13)

“The Office of the Comptroller of the Currency (OCC) announced the second wave of payments resulting from the foreclosure settlement with federal regulators and 13 servicers was sent Friday.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $440,000 on a 2 bedroom, 2 bathroom home appraised for $71,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with Chino Valley Real Estate on Friday, May 17, 2013.

Looking Back:

Claims for unemployment decreased by 2,000 with claims being at 386,000 compared to 388,000 the week prior.  Existing home sales also decreased 2.6% the previous month for the third time in the previous four months.  Mortgage rates increased to 3.9% at this time last year, the first time in four weeks mortgage rates saw an increase.

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 4/17/13

Wednesday, April 17th, 2013


Today’s News Synopsis:

The Mortgage Bankers Association reported mortgage applications increased 4.8% from last week.  Home builder sentiment increased by three points to 53, the highest in six years.  Bank of America posted their profit for the first quarter of 2013 at $2.6 billion.

In The News:

DS News - “Fed: ‘Problems’ with Cashing Foreclosure Settlement Checks Corrected” (4-17-13)

“Although about 50,000 checks from the recent foreclosure settlement have been cashed or deposited as of Monday, April 15, according the Federal Reserve and the Office of the Comptroller of the Currency (OCC), not all recipients were able to cash their checks.”

Housing Wire – “BofA posts 1Q profit, mortgage banking a mixed bag” (4-17-13)

“Bank of America posted a profit of $2.6 billion, or 20 cents a share, for the first quarter of 2013.”

Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (4-17-13)

“Mortgage applications increased 4.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 12, 2013.”

Inman - “Trulia survey casts light on homeowner regrets” (4-17-13)

“In a nod to today’s acute inventory shortage, Trulia recently conducted  a “regrets survey,” saying in a blog post that the survey’s results are particularly relevant because the tight supply of the current market is likely to rush buyers into making purchases without doing proper due diligence.”

Bloomberg - “Student Debtors Retreat From Home Buying, NY Fed Data Show” (4-17-13)

“Student-loan borrowers under 30 are retreating from the housing and auto markets, an analysis of data by the Federal Reserve Bank of New York shows.”

Realty Times - “Home Builder Sentiment Highest in Six Years” (4-17-13)

“Although U.S. home builders are concerned about the rising costs of building materials, home builder sentiment for future sales expectations in the next six months climbed three points to 53 and is at the highest level reached in more than six years, February of 2007, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”

Housing Wire - “Housing moves forward despite economic setbacks: Fannie Mae” (4-17-13)

“The fiscal headwinds from tax hikes and sequestration should restrain economic growth and counter the tailwinds from housing as well as the continued Federal Reserve ultra-easy monetary policy.”

Housing Wire – “HUD Secretary sounds alarm on FHA taxpayer bailout” (4-17-13)

“Members of the House Committee on Appropriations fired off questions Wednesday to Shaun Donovan, secretary of the Department of Housing and Urban Development, seeking answers to how the Federal Housing Administration will avoid a potential $943 million first-time Treasury draw.”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $63,000 on a 3 bedroom, 2 bathroom home appraised for $98,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting Poised to Pop: Quadrant Four Has Arrived with TIGAR on Thursday, May 16, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with Chino Valley Real Estate on Friday, May 17, 2013.

Looking Back:

Housing starts showed disappointing numbers the prior month with a 5.8% drop from February 2012.  The Lender Processing Services reported more short sales than foreclosures with banks agreeing to sell houses below the mortgage amount.  Housing permits increased 4.5% in March 2012, bringing them to their highest level in four 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 4/9/13

Tuesday, April 9th, 2013


Today’s News Synopsis:

The number of job openings in February increased to their highest in five years at 3,925,000.  In a big week for foreclosures, consumer groups including the Consumers Union and Center for Responsible Lending are urging mortgage servicers to come up with efficient ways to prevent foreclosures.  In addition, borrowers who were covered by a recent foreclosure agreement will receive their first checks on April 12.  In a more humorous story, the Obama Administration will be cutting more from the budget, including catfish inspectors.

In The News:

Inman - “Lenders more optimistic about home prices” (4-9-13)

“Lenders are more confident about the direction of home prices than at any time in the last three years, according to a quarterly survey conducted for decision-management firm FICO by the Professional Risk Managers’ International Association.”

DS News – “February Job Openings Near 5-Year High” (4-9-13)

“Job openings in February rose to 3,925,000, the highest level since May 2008, the Bureau of Labor Statistics (BLS) reported Tuesday in its monthly Job Openings and Labor Turnover Survey (JOLTS). The number of persons unemployed for each job opening fell to 3.07, the lowest level since October 2008.”

Housing Wire – “Bernanke: Stress tests restore confidence in economy” (4-9-13)

“Four years later after the financial crisis, Federal Reserve Chairman Ben Bernanke says the economy and the nation’s banks are in a much stronger position, thanks to government intervention and a series of confidence-building stress tests.”

CNN Money - “Regulators probe more bank deception” (4-9-13)

“Regulators are expanding their probe into whether the world’s major banks deceived customers to manipulate a benchmark interest rate used to settle trillions of dollars of trades every day.”

Housing Wire - “FHFA: Refinance volumes through HARP hold strong” (4-9-13)

“Nearly 470,000 Fannie Mae and Freddie Mac mortgages refinanced in January, with roughly 97,600 completed through the Home Affordable Refinance Program, signaling that volumes remained high through the first month of the year.”

Inman- “Consumer groups push states to strengthen foreclosure prevention” (4-9-13)

“States should require mortgage servicers to negotiate loan terms with borrowers to prevent foreclosure and allow borrowers to pause a foreclosure sale should the servicer violate that requirement, two consumer advocacy groups said in a report released today.”

DS News - “First Wave of Payments from Foreclosure Settlement Scheduled April 12″ (4-9-13)

“The first wave of checks for eligible borrowers covered by the recent foreclosure agreement with 13 mortgage servicers will be sent April 12, the Federal Reserve and Office of the Comptroller of the Currency (OCC) announced Tuesday.”

CNN Money - “Catfish inspectors among $25 billion cuts in Obama’s budget” (4-9-13)

“Catfish inspectors are facing the knife on President Obama’s budget menu.  They are among $25 billion of wasteful and duplicate spending targeted by the president’s budget that will be released Wednesday, according to an administration official.”

Hard Money Loan Closed

Covina, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $245,000 on a 4 bedroom, 2 bathroom home appraised for $377,000.

 

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, June 1 in Orange.

Looking Back:

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 was also at a record high.

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 4/4/13

Thursday, April 4th, 2013


Today’s News Synopsis:

Mortgage rates decreased this past week with 30-year rates at 3.54% and 15-year rates at 2.74%.  The NAHB reported the number of improving housing markets remained the same this month after having shown improvement for seven months straight.  More consumers are having a positive outlook on the economy with the housing recovery.

In The News:

Inman - “Mortgage rates dip from last week” (4-4-13)

“Mortgages rates slipped this week, even as the S&P 500 Index and the Dow Jones Industrial hovered around record highs.”

NAHB - “Number of Improving Housing Markets Holding Steady in April” (4-4-13)

“Following seven consecutive months of gains, the list of improving U.S. housing markets remained virtually unchanged in April, with 273 metros on the National Association of Home Builders/First American Improving Markets Index (IMI), released today.”

Bloomberg - “Investors Widen U.S. Rental Search as Home Costs Rise” (4-4-13)

“Landlords seeking the highest returns for single-family homes should hit the road as rental rates weaken in Atlanta, Phoenix and Las Vegas, where institutional investors have flooded the market.”

Housing Wire - “Residential mortgage debt may lead to tipping point in GSE takeover” (4-4-13)

“While it’s no surprise that Fannie Mae and Freddie Mac guaranteed the majority of new residential mortgage originated throughout the nation, the government-sponsored enterprises also guaranteed about half of the outstanding residential mortgage debt, the Congressional Budget Office said in its latest post.”

Realty Times – “Housing Recovery Prompts More Real Estate Agent Optimism” (4-4-13)

“If we’ve said it once, we’ll say it again: there’s nothing like boots-on-the-ground to get in-the-trenches information about the real estate market.”

Housing Wire - “Mortgage insurers respond to CFPB enforcement action” (4-4-13)

“The Consumer Financial Protection Bureau reached a deal with four major mortgage insurers, requiring the firms to pay a total of $15 million in penalties for allegedly paying kickbacks to lenders in exchange for business.”

Inman - “Report reveals best practices for real estate marketing worldwide” (4-4-13)

“Consulting firm AIM Group has released its annual real estate report that assesses real estate marketing practices around the world.”

DS News - “Fitch: High Rate of Unsuccessful Mods Threatens Asset Quality” (4-4-13)

“Servicers continue to make strides in home retention efforts, completing more than 360,000 retention actions in the fourth quarter of 2012, according to a report from Office of the Comptroller of the Currency (OCC).”

Hard Money Loan Closed

Hesperia, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $64,000 on a 3 bedroom, 2 bathroom home appraised for $100,000.

 

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, April 6 in Sacramento.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived with FIBI OC on Tuesday, May 7, 2013.

Looking Back:

209,000 jobs were added to the private sector this month, although the number of jobs was still not as much as February.  Home prices increased month-over-month in February, although this did not include distressed sales.  Mortgage applications increased 4.8% from last week, although mortgage rates continue 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 | No Comments »

The Norris Group Real Estate News Roundup 3/28/13

Thursday, March 28th, 2013



Sources:

Today’s News Synopsis:

This week’s video is a slideshow of the top news stories in real estate.  Unemployment claims made a surprise increase by 16,000 to 357,000 last week.  This is the biggest increase since mid-February according to the Labor Department.  The Bureau of Economic Analysis reported GDP increased 0.4% annually in the fourth quarter of 2012.  Several large banks have all filed a petition together to have several rulings against them overturned.

In The News:

DS News - “OCC: Mortgage Performance Improves in Q4″ (3-28-13)

“A higher share of mortgages were current and performing at the end of the fourth quarter, while the number of new foreclosures hit a record low, the Office of the Comptroller of the Currency (OCC) in its Mortgage Metrics Report.”

DS News - “Jobless Claims in Surprise Jump” (3-28-13)

“First-time claims for unemployment insurance jumped 16,000 to 357,000 for the week ended March 23, the strongest jump since mid-February, the Labor Department reported Thursday.”

Realty Times – “Home Values Near Public Transit Better At Riding Out The Recession” (3-28-13)

“The next time you squawk about higher gasoline prices and that dreadful commute, consider this: during the last recession, home values near high-frequency public transit performed nearly 42 percent better than homes away from transit lines.”

Housing Wire – “Big banks request intervention in FHFA lawsuits” (3-28-13)

“More than a dozen banking giants filed a joint petition, urging a U.S. Appeals Court to step in and reverse several rulings by U.S. District Court Judge Denise Cote, who is accused of depriving the companies of evidence to defend their cases.”

Bureau of Economic Analysis - “Gross Domestic Product, 4th quarter and annual 2012 (third estimate)” (3-28-13)

“Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 0.4 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the “third” estimate released by the Bureau of Economic Analysis.”

Housing Wire - “CFPB ups the transparency, launches consumer complaint data” (3-28-13)

“The Consumer Financial Protection Bureau launched the nation’s largest public database of federal consumer financial complaints Thursday, giving researchers and the public-at-large a first-hand look at how servicers and lenders handled various complaints from customers.”

Inman - “Number of homes in foreclosure down 21 percent in February” (3-28-13)

“The 1.2 million homes in some stage of foreclosure in February, about 2.8 percent of all homes with a mortgage, represents a 21 percent drop from year-ago foreclosure inventory, a monthly report from data company CoreLogic shows.”

Bloomberg - “U.S. Mortgage Rates Climb With 30-Year Fixed at 3.57%” (3-28-13)

“Mortgage rates in the U.S. rose slightly, holding near record lows as cheap borrowing costs help fuel the housing recovery.”

Hard Money Loan Closed

San Bernardino, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $85,000 on a 3 bedroom, 1 bathroom home appraised for $131,000.

 

The Norris Group will be holding their Distressed Property Boot Camp from March 26-28, 2013.

Bruce Norris of The Norris Group will be presenting How to Make a Million Dollars Maximizing the Next 24 Months on Saturday, April 6 in Sacramento.

Bruce Norris of The Norris Group will be presenting his newest talk Poised to Pop: Quadrant Four Has Arrived at with High Desert Real Estate on Thursday, April 11, 2013.

Looking Back:

Conflicting reports were being released regarding 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 the previous week.

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 2/1/13

Friday, February 1st, 2013



Sources:
Tight inventories weigh on prospects for 2013 growth
U.S. home prices crawl upward
U.S. Home Vacancies Fell in 4th Quarter From Prior Year
U.S. Mortgage Rates Rise With 30-Year Highest in 4 Months
Economy Adds Another 157,000 Jobs; Rate Up to 7.9%
Q4 GDP Falls for First Time Since Recession Ended
San Bernardino County Rejects Eminent Domain Proposal
Housing Recovery Hit by Low Inventory
FHA to hike premiums on mortgages
LPS Resolves ‘Robo-Signing’ Allegations in $127M Multistate Settlement

Today’s News Synopsis:

Aaron Norris gives the news of the week in the world of real estate in this week’s video.  The Labor Department reported 157,000 jobs were added last month, showing an increase in jobs but slower rate month-over-month when 196,000 jobs were added in December.  The multifamily market has showed tremendous progress across the nation with the housing crisis and stronger economic climate.

In The News:

CNN Money- “Jobs report: Steady hiring continues” (2-1-13)

“The jobs recovery continued to crawl forward at a slow pace in January, and there’s little hope it will pick up any time soon.  The U.S. economy added 157,000 jobs in January, according to a Labor Department report released Friday. That’s slower growth than in December, when employers hired 196,000 workers.”

Housing Wire – “RBS: 10-year Treasury yield will grow despite bond-buying strategy” (2-1-13)

“The 10-year Treasury yield rose by 2% this week, its highest level since the Federal Reserve announced the continuation of an open-ended third round of quantitative easing on Sept. 13.”

DS News- “Report: Foreclosure Inventory Down Nearly 20% from Year Ago” (2-1-13)

“In December, the number of homes in some stage of the foreclosure process continued to shrink, and fewer homes were lost to foreclosure, according to the National Foreclosure Report from Corelogic.”

Housing Wire- “NRLB decision brings out CFPB opponents” (2-1-13)

“Opponents of the Consumer Financial Protection Bureau introduced legislation this week that would prevent the CFPB from enforcing or implementing regulations without a constitutionally confirmed director in place.”

Realty Times - “Mortgage Rates Trending Higher” (2-1-13)

“In Freddie Mac’s results of its Primary Mortgage Market Survey®, mortgage rates continuing to trend higher amid a growing economy led in part by the recovering housing market.”

Inman – “IRS provides guidance on HAMP principle reductions” (2-1-13)

“The Home Affordable Modification Program (HAMP) was established a few years ago by the Departments of the Treasury and Housing and Urban Development to help homeowners who are underwater avoid foreclosure.”

DS News- “Multifamily Sector to Remain Strong with a Few Hiccups in Some Markets” (2-1-13)

“The recent housing crisis and the broader economic climate have led to a strong multifamily housing market nationwide. Marcus & Millichap Real Estate Investment Services’ recently released National Apartment Report promises another year of expansion in the multifamily market as ‘the alignment of powerful demographic and economic trends continues to fortify nationwide apartment performance’.”

Housing Wire – “Lawmakers request more transparency in foreclosure settlement” (2-1-13)

“In an attempt to boost transparency, two lawmakers requested documents related to the $8.5 billion foreclosure settlement intended to compensate homeowners who allegedly experienced improper foreclosures.”

Hard Money Loan Closed

Winchester, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $195,000 on a 5 bedroom, 3 bathroom home appraised for $289,000.

 

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.

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.

Looking Back:

170,000 jobs were added to the private sector, although job growth overall was slower for the month of January as companies were hiring fewer people.  In updated news from the previous day, the home ownership rate decreased for 7 years straight and was at levels that had not been seen in almost 14 years.  Both mortgage rates and applications continued to stay low.

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 7/6/12

Friday, July 6th, 2012



Sources:
Prices Up Again in May, Trend Will Continue into June: CoreLogic
Construction Spending in U.S. Climbs to More Than Two-Year High
CMBS delinquencies up for fourth-straight month
Mortgage rates smash old record
Apartment Rents in U.S. Rise Most Since 2007 as Vacancy Falls
Barclays Chairman Steps Down Amid Scandal
Barclays Loses Two More in LIBOR Scandal Backlash
FHFA Announces Next Steps in REO Pilot Program
Countrywide Loans Sought Favor With Fannie Mae, Report Says
Homeowner Bill of Rights Passes in California, Advocates Applaud Victory after Three Years of Legislative Battles

Today’s News Synopsis:

In this week’s video, Aaron Norris gives the news of the week in the world of real estate and other big news of the week.  The Labor Department reported disappointing numbers for job growth last month with only 80,000 jobs added.  Fannie Mae and Freddie Mac will continue to focus their attention on repurchase claims, only now they will be working with smaller banks rather than the large institutions.

In The News:

DS News – “Nation Adds a Weak 80,000 Jobs in June, Unemployment Rate Flat “ (7-6-12)

“The nation added 80,000 jobs in June, the Labor Department reported Friday.”

Realty Times – “Sunny Forecast For The Real Estate Market, Optimism Growing Among Some” (7-6-12)

“The real estate market has had an ominous cloud looming for a long while with sunshine trying to break through. Now, according to a recently released second quarter survey by HomeGain, optimism is growing and a sunnier forecast is anticipated by some.”

Housing Wire – “Mortgage servicers modify 70% of HAMP-eligible second liens” (7-6-12)

“Mortgage servicers started modifications on 70% of the second liens eligible for the Home Affordable Modification Program, but many are still left out, according to Treasury Department data released Friday.”

Inman – “CoreLogic patent win withstands appeal” (7-6-12)

“A federal appeals court has affirmed a lower court decision dismissing a patent infringement suit against a multiple listing service software vendor and invalidating the patent at issue.”

Realty Trac – “LIBOR: Rigged Interest Rates, Rigged Real Estate” (7-6-12)

“On Monday, the chairman of Barclays, Marcus Agius, resigned after the British bank agreed to pay $450 million to settle findings that it — and other banks — had rigged benchmark interest rates to benefit its own bottom line. Tuesday, Barclays chief executive, Robert Diamond, resigned immediately.”

DS News – “HELOC Delinquency Rate Up, All Other Categories Down: ABA” (7-6-12)

“Out of 11 categories of loan types, only home equity lines of credit (HELOC) rose, according to a report from the American Bankers Association (ABA).”

Housing Wire – “Foreclosure reviews less popular in hardest hit states” (7-6-12)

“As a percentage, borrowers in the states least hit by the foreclosure process accepted more foreclosure reviews offered by federal regulators than those in states most impacted by the crisis, according to an analysis of government data.”

DS News – “GSEs Shifting Focus on Regional Banks for Repurchase Claims: Fitch “ (7-6-12)

“Fitch Ratings released a note Thursday stating that Fannie Mae and Freddie Mac won’t be slowing down on repurchase requests and sees a shift in focus from the largest institutions to midtier regional banks.”

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.

Looking Back:

Bloomberg believed the housing market was recoving at a slower pace due to tighter restrictions and higher standards set by the government.  On a positive note, Inman reported an increase of 6.7% in rental prices, and Realty Times reported mortgage rates remained the same while housing prices showed a slight increase.  In other news, the Republicans introduced a bill to merge Fannie Mae and Freddie Mac into one corporation.

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 »

« Older Entries