Mortgage delinquencies hit lowest level in years
S&P/Case-Shiller: Home prices finally start to stabilize
Consumer Confidence in U.S. Fell More Than Forecast in April
Pending home sales jump to highest level in nearly a year
MBA Releases First Commercial/Multifamily Originations Data of 2016
Single-Family Sector Leads Housing to Higher Ground
Federal Reserve leaves interest rates unchanged in April
Ten States Where Home Prices are Heating Up
This Year’s Housing Forecast Looks a Lot Like 2006
U.S. Housing Market Shows Positive Trends
Best Places For Retirees To Rent Or Buy
Today’s News Synopsis:
In The News:
Mortgage Professional America – “Single-family puts housing market on upward trajectory” (4-29-16)
“The housing market will continue on a gradual upward trajectory over the next year, pushed by steady job growth, attractive interest rates and pent-up demand, according to economists who participated in a National Association of Home Builders webinar”
DS News – “The Re-emergence of Loan Defects” (4-29-16)
“For a while, loan defects had settled down in the mortgage industry, but they appear to be making their way back into the market due to heightened risk from government loans.”
Housing Wire – “Tennessee’s Trust Company Bank becomes second bank failure of 2016” (4-29-16)
“The Tennessee Department of Financial Institutions closed Memphis-based Trust Company Bank on Friday, and appointed the Federal Deposit Insurance Corporation as receiver.”
Mortgage Professional America – “Morning Briefing: Commercial mortgages down so far in 2016” (4-29-16)
“Originations of commercial and multifamily mortgages were down from the end of 2015 and essentially flat from a year ago according to the Mortgage Bankers’ Association.”
Housing Wire – “Former SunTrust Mortgage VP, his wife, her brothers sent to jail for mortgage fraud” (4-29-16)
“For Mohsin Raza, his wife, Humaira Iqbal, and her brothers Farukh Iqbal and Mohammad Ali Haider, committing mortgage fraud really was a family affair. ”
Mortgage Professional America – “Mortgage complaints on the rise – CFPB” (4-29-16)
“The Consumer Financial Protection Bureau received an average of about 4,600 mortgage complaints per month between January and March, according to its newest Monthly Complaint Report.”
DS News – “Is CFPB’s Arbitration Clause Ban Tough Enough?” (4-29-16)
“Much of the criticism leveled against the Consumer Financial Protection Bureau (CFPB) in the Bureau’s brief five-year history has been centered on claims that the CFPB is too tough on businesses it deems to have engaged in predatory financial activity.”
Hard Money Loan Closed
Mira Loma, California hard money loan closed. Real estate investor received loan for $243,000 on this single family property appraised for $390,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with IVAR on Wednesday, May 4.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with OCRE Forum on Wednesday, May 11.
Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Thursday, May 19.
Image copyright source: www.flickr.com/photos/sylvar
Mortgage applications saw a 2.3% decrease in the past week according to the Mortgage Bankers Association. Pending home sales increased for the third month in a row by 1.1% month-over-month and 11.1% year-over-year, putting them at their highest in two years. More and more people who did not own a home were not planning to purchase in the future.
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 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.