California Real Estate Headline Roundup

Posts Tagged ‘Operation Homefront’

By Bruce Norris .

Analysts Scratching Heads Over Drastic Decrease in Housing Starts Last Month

Wednesday, March 18th, 2015

 

 

Today’s News Synopsis:

Housing starts dropped drastically in February, leaving analysts scratching their heads and speculating it may have been a decrease in labor.  The Mortgage Bankers Association reported a 3.9% decrease in mortgage applications from last week.  Billions of dollars are being given to nonprofit company NeighborWorks America to help bring relief to Americans, however it is appears the process the organization is utilizing is very disorganized and disorderly.

In The News:

Mortgage Bankers Association - “Mortgage Applications Decrease in Latest MBA Weekly Survey” (3-18-15)

“Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 13, 2015.”

Housing Wire - “Did housing starts nose dive because of a labor shortage?” (3-18-15)

“Housing analysts are still trying to figure out why housing starts nose-dived in February.  Privately owned housing starts in February plummeted 17%, down to an annualized 897,000 from the revised January estimate of 1,081,000, with drops in the Northeast, Midwest and West leading the collapse.”

Bloomberg“The Nonprofit Behind Billions in Mortgage Aid Is a Mess” (3-18-15)

“Hoping to deliver relief to Americans pounded by the financial crisis, the government has poured billions of dollars into a sort of Red Cross for homeowners.  NeighborWorks America, a nonprofit chartered by Congress, distributes much of that money to counseling groups that dispense mortgage advice and sometimes financial aid.”

Mortgage Professional America - “JPMortgan to acquire $45B of troubled company’s servicing rights” (3-18-15)

“In early March, Ocwen Financial Corp. had said it was on track to sell the servicing rights for mortgages with a balance of $55 billion. The firm had previously announced that it had sold almost $10 billion of those rights to Nationstar, but it didn’t identify who was acquiring the other $45 billion.”

DS News - “Auction.com and Five Star Institute Pledge Support to Operation Homefront and Veteran Home Donation Program” (3-18-15)

“The Five Star Institute President and CEO Ed Delgado announced earlier today at the Five Star Government Forum in Washington, D.C., that the Institute would be partnering with the nation’s leading online real estate marketplace, Irvine, California-based Auction.com, and national nonprofit Operation Homefront in support of a home donation program that provides mortgage-free homes to veterans.”

Mortgage Professional America“Daily Market Update: Housing affordability creates challenge for employers” (3-18-15)

“Employers are struggling to hire from out-of-town in some U.S. markets due to the high cost of housing. New York is particularly problematic and it’s prompting some people to live in illegally cramped shares.”

Housing Wire“Mortgage lenders want regulatory relief” (3-18-15)

“Mortgage lenders and others told the House Financial Services Subcommittee on Financial Institutions and Consumer Credit that the mortgage industry needs regulatory relief, or else borrowers – especially lower income and minority borrowers – will continue to be left out.”

DS News“DhanInfo Expands Further With $1 Million State-of-the-Art Office” (3-18-15)

“India-based IT firm DhanInfo followed up last October’s move into a new office complex in Nagpur that can house up to 600 employees with more expansion in order to meet the mortgage industry’s growing demand for reputable, reliable, and accurate property preservation and data processing outsourcing and Internet marketing.”

 

Bruce Norris of The Norris Group will be speaking at the 2015 Women in DS Conference from Sunday-Tuesday, May 3-5.

Bruce Norris of The Norris Group will be holding his Norris Group Property Buying Bootcamp Tuesday, May 5 through Thursday, May 7

Bruce Norris of The Norris Group will be speaking at the IVAOR Real Estate Market Update on Wednesday, May 6.

 

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.

Copyright: Image from www.flickr.com/photos/photojonny/

 

 

The Norris Group Real Estate News Roundup 2/21/12

Tuesday, February 21st, 2012

Today’s News Synopsis:

The Lender Processing Services said delinquency rates fell last month, but at the same time the economy saw an increase in foreclosures.  Real Estate Brokerage firm Grubb & Ellis Co. filed for Chapter 11 bankruptcy and will sell their assets to Newmark Knight Frank’s parent company BGC Partners Inc.  In other news, Fannie Mae and Freddie Mac regulators want to create a new mortgage-backed securities market while giving Fannie and Freddie fewer privileges.

In The News:

DS News“Bank and Non-Profit Unite to Provide Homes to Service Members” (2-21-12)

“Operation Homefront, a non-profit which assists families of service members, partnered with Chase to place at least 100 Wounded Warriors, military, and veteran families into permanent residences this year through the Homes on the Homefront programn.

Los Angeles Times“Grubb & Ellis Co. assets sold in Chapter 11 bankruptcy” (2-21-12)

“Venerable commercial real estate brokerage Grubb & Ellis Co. will sell its assets to the parent company of rival Newmark Knight Frank as part of a prepackaged bankruptcy, the firms said Tuesday.”

Housing Wire“Delinquency rate falls in January but foreclosure starts rise: LPS” (2-21-12)

“The delinquency rate on U.S. mortgages monitored by Lender Processing Services ($22.72 0%) fell in January but foreclosure starts rose.”

Realty Times“CFPB Proposes New Form For Mortgage Statements” (2-21-12)

“CFPB will affect real estate financing in matters ranging from disclosures to underwriting to appraisal practices. And that’s just the real estate part. CFPB will also have its hand in the business of credit card companies, credit reporting agencies, automobile financing, payday lenders, and many others.”

DS News“Apraisal Service Delivers 1 Million Reports” (2-21-12)

“a la mode announced February 16 that its DataCourier service reached a milestone of one million appraisal reports delivered since September 1, 2011, the time new Uniform Appraisal Dataset (UAD) requirements went into effect.”

Housing Wire“FHFA submits plan to build new secondary mortgage market” (2-21-12)

“Federal Housing Finance Agency Acting Director Edward DeMarco sent a plan to Congress on how to fix the nation’s mortgage finance market. His solution is to build a completely new infrastructure for the secondary market while contracting activities at the government-sponsored enterprises, Fannie Mae and Freddie Mac.”

Bloomberg“Seizures Threatened in Massachusetts With Naked Loans Challenge: Mortgages” (2-21-12)

“The highest court in Massachusetts is poised to rule as soon as this month on a foreclosure case that could lead to a surge in claims from home owners seeking to overturn seizures.”

Los Angeles Times“Housing regulator wants Congress to shrink Fannie Mae, Freddie Mac” (2-21-12)

“The regulator for Fannie Mae and Freddie Mac wants to gradually shrink the seized housing finance giants and create a new market for mortgage-backed securities to help the private sector to replace them.”

DS News“Ohio Spends $75M to Demolish Neighborhood Blight” (2-21-12)

“Ohio Attorney General Mike DeWine will use a portion of Ohio’s $335 million reward from the recent national settlement with the nation’s largest servicers for property demolition.

Housing Wire“Fitch downgrades CMBS, including bond holding Credit Suisse US HQ” (2-21-12)

“The lagging performance of certain commercial and multifamily properties, including one containing the Credit Suisse ($27.67 0.77%) headquarters in Manhattan, prompted Fitch Ratings to downgrade nine classes of mortgage-backed securities.”

Hard Money Loan Closed

Compton, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $125,000 on a 4 bedroom, 2 bathroom home appraised for $238,000.

California Real Estate Investor Events:

Bruce Norris of The Norris Group will be at the Riverside Escrow Association today, February 21, 2012.

The Norris Group posted a news event.  Bruce Norris of The Norris Group will be at the Real Estate Rewind at FIBI Long Beach on February 23, 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.