Today’s News Synopsis:
The CFPB wants to hear from you. The NAHB reported a two point increase in builder confidence in December, placing it now at 72. The Mortgage Bankers Association reported a 4.1% in mortgage applications last week.
In The News:
CoreLogic – “CoreLogic Integrates Fraud and Income Verification Solutions with LendingQB” (1-17-2018)
“CoreLogic (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today announced that their 4506-T Direct income verification solution and LoanSafe Fraud Manager report are now available on the LendingQB Loan Origination System (LOS).”
NAHB – “Builder Confidence Remains Strong as New Year Starts” (1-17-2018)
“Builder confidence in the market for newly-built single-family homes dropped two points to a level of 72 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after reaching an 18-year high in December 2017.”
Fannie Mae – “Fannie Mae Introduces Enhanced Resident Services as Part of its Healthy Housing Rewards Initiative” (1-17-2018)
“Fannie Mae (FNMA/OTC) announced today Enhanced Resident Services, a new product enhancement aimed at encouraging multifamily borrowers to provide resident services that improve the health and wellbeing of tenants in affordable housing.”
Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (1-17-2018)
“Mortgage applications increased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 12, 2018.”
Forbes – “Houzz Survey Helps Homeowners Budget For Their Kitchen Remodels” (1-17-2018)
“Many things in life can be boiled down to one central concern: What’s this going to cost me? When it comes to remodeling a kitchen, the answer isn’t always straightforward. The size of your space, the scope of work involved, your DIY abilities, the quality of materials you choose and even your geographic location all play a part.”
Realtor.com – “Realtors, Licking Their Wounds, Get Ready for Their Next Battle” (1-17-2018)
“The National Association of Realtors, one of the largest and wealthiest lobby groups in the U.S., emerged from the recent tax overhaul hobbled and humbled.”
Washington Post – “A different biological clock: Why some women care more about buying a home than having a baby” (1-17-2018)
“I’m often hearing that single women are more likely to buy homes on their own more than single men. Even in my early 20s, anecdotal research backed this up: Many women in my friend group were purchasing their own homes, or dreaming about doing so, and not waiting for a significant other to do it.”
Housing Wire – “Changes at the CFPB? Mulvaney wants to hear from you on how to fix bureau” (1-17-2018)
“It’s clearly a whole new world at the Consumer Financial Protection Bureau with Mick Mulvaney in charge.”
Hard Money Loan Closed
San Diego, California hard money loan closed. Real estate investor received loan for $200,000 on this single family property appraised for $405,000.
Bruce Norris will be presenting Stay Put or Cash Out with OC FIBI on Tuesday, February 6.
Bruce Norris will be presenting Stay Put or Cash Out with the Arcadia Association of Realtors on Wednesday, February 7.
Bruce Norris will be presenting Stay Put or Cash Out with TIGAR on Thursday, February 15.
Despite the values of homes increasing, consumers were still hesitant to buy due to painful memories of the financial crisis. Deutsche Bak reached a settlement of $7.2 billion with the Justice Department for dishonest practices. Real estate purchases in Brooklyn were exceeding those of Manhattan.
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.