Today’s News Synopsis:
In The News:
“Whole house remodels and additions are regaining market share according to a survey of remodelers released by NAHB Remodelers, the remodeling arm of the National Association of Home Builders (NAHB).”
DS News – “Did the Government Set the GSEs Up for Trouble?” (5-2-16)
“This week, much of the talk in the mortgage industry is around Freddie Mac and Fannie Mae and whether or not one or both will need to make another draw on Treasury when their Q1 financial results are released on Tuesday, May 3, and Thursday, May 5, respectively.”
Bloomberg – “U.S. Stocks Rebound After S&P 500’s Worst Week Since February” (5-2-16)
“U.S. stocks advanced to begin May, with the S&P 500 recovering from its biggest weekly retreat since February, as banks rebounded and Amazon.com Inc. rallied for a second day after its better-than-estimated earnings.”
Mortgage Professional America – “CFPB reconsidering TRID” (5-2-16)
“Industry activism may have paid off. The Consumer Financial Protection Bureau is reconsidering the Know Before You Owe Rule, according to a letter by CFPB Director Richard Cordray.”
Housing Wire – “Texas housing inventory officially hits all-time low” (5-2-16)
“If the Lone Star state wasn’t already struggling enough with today’s tight market, the news just got worse for home shoppers as current housing supply sits at an all-time low, a problem that now impedes the entire state.”
DS News – “Affordability Muted by Rapid Home Price Growth” (5-2-16)
“Although mortgage interest rates continue to remain at historical lows, the benefits of this current environment are not being taken advantage of by borrowers due to one pressing factor in the market: surging home price increases.”
Mortgage Professional America – “Renovation lending is hot and getting hotter” (5-2-16)
“Underwriting 100-150 renovation loans a month, American Financial Resources (AFR) has become one of the top renovation lenders in the country since getting into the business in 2008, according to Chief Operating Officer Laura Brandao, who said AFR is No. 1 in wholesale FHA 203(k) loans.”
DS News – “A House Win for State Insurers” (5-2-16)
“The House Financial Services Committee unanimously passed a bill this week that lifts certain restrictions placed on insurance companies by the federal government and gives states more flexibility to license and regulate private flood insurance.”
Hard Money Loan Closed
Lancaster, California hard money loan closed. Real estate investor received loan for $88,000 on this single family property appraised for $157,000.
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/georgiapeachez
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.