Today’s News Synopsis:
In The News:
Housing Wire – “Housing experts fear impact of Trump, Sanders presidency” (5-18-16)
“Come November, some percentage of the U.S. population will choose the next president of this country. Who wins the election is still a big mystery and what happens after that is an even larger mystery.”
DS News – “Congressman Calls for Regulatory Transparency from the CFPB” (5-18-16)
“U.S. Rep. French Hill (R-Arkansas) said Monday that the Consumer Financial Protection Bureau (CFPB) needs to do a lot more to ensure the industry understand the new TRID-compliant ‘Know Before You Owe’ rules before they take effect.”
Mortgage Professional America – “Nonprime today is healthy and thriving, says Hutchens” (5-18-16)
“Ten years ago the nonprime lending system was set up for failure, and it failed. Today, Angel Oak Senior Vice President for Sales and Marketing Tom Hutchens said the system is set up for success, and that it is succeeding at putting qualified buyers into houses they can afford to pay for even if they don’t qualify for conventional loans.”
Mortgage Bankers Association – “Mortgage Applications Decrease in Latest MBA Weekly Survey” (5-18-16)
“Mortgage applications decreased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 13, 2016.”
Bloomberg – “There Are the Best U.S. Cities for Jobs” (5-18-16)
“Not all cities are created equal when it comes to work. Sometimes it may be easy to find a job, but the cost of living is high. Or a role might offer a high salary, but would deprive you of work-life balance.”
Mortgage Professional America – “Feds accused of planning microphones to spy on real estate investors” (5-18-16)
“FBI agents reportedly planted hidden microphones around the San Francisco area in an attempt to gather evidence against several real estate investors suspected of rigging bids at foreclosure auction.”
Housing Wire – “The ‘perfect storm’ blocking your business this spring-buying season” (5-18-16)
“What’s presumed to be the hottest buying season of the year isn’t shaping up to that due to a flurry of factors that are growing into the “perfect storm” to hinder housing, explained Kevin Golden, director of analytics with a la mode, at the Mortgage Bankers Association’s Secondary conference in New York City.”
DS News – “Trump Planning Dodd-Frank Overhaul” (5-18-16)
“Calling the Dodd-Frank Act a “negative force,” presumptive Republican presidential nominee Donald Trump said on Wednesday that in the next couple of weeks he will unveil a plan to overhaul the controversial Wall Street reform law that was passed in 2010 in response to the crisis.”
Hard Money Loan Closed
Riverside, California hard money loan closed. Real estate investor received loan for $106,000 on this single family property appraised for $177,000.
Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Thursday morning, May 19.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Pasadena FIBI on Thursday night, May 19.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with FIBI Long Beach on Thursday night, May 26.
Image copyright source: www.flickr.com/photos/44313045@N08
Zombie foreclosures were continuing to be dealt with as New York Governor Andrew Cuomo had just announced new practices for these foreclosures would be carried out by 11 institutions. Fewer people intend to own a home despite the increase in rents, which normally would push them to buy. Builder confidence decreased by two points this month, putting it at 45.
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.