Norris Bruce
Jun 13, 2017

Mortgage Delinquencies Decrease in March to Lowest in 10 Years

Today’s News Synopsis:

Mortgage delinquencies decreased 0.8% to 4.4% in March, their lowest in ten years.  Realtor.com released their latest list showing the most expensive homes being sold on the market.  REALICITY just announced its plans to release their new business model in New York very soon.

In The News:

CoreLogic – “CoreLogic Reports Mortgage Delinquencies Dropped to a 10-Year Low in March 2017” (6-13-2017)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report which shows that, nationally, 4.4 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in March 2017.”

Realtor.com – “The 10 Most Expensive Homes for Sale in the U.S. Right Now” (6-13-2017)

“Let’s be clear. There are expensive homes. And then there are astronomically priced palaces that rise head and shoulders—and multiple zeroes—above the rest.”

Bloomberg – “This Luxury Manhattan Tower’s Big-Spending Buyers Are Locals” (6-13-2017)

“How do you offload luxury condos in Manhattan, where there’s a glut of offerings and the foreign investors have disappeared? You attract the locals.”

Fannie Mae – “Fannie Mae Announces Results of its Third Reperforming Loan Sale Transaction” (6-13-2017)

“Fannie Mae (FNMA/OTC) today announced the results of its third reperforming loan sale transaction.  The deal, which was announced on May 10, 2017, included the sale of approximately 13,500 loans totaling $2.99 billion in unpaid principal balance (UPB), divided into three pools.”

Freddie Mac – “Freddie Mac Prices Fourth STACR Deal of 2017” (6-13-2017)

“Freddie Mac (OTCQB: FMCC) today priced a $787.5 million Structured Agency Credit Risk (STACR®) debt notes offering, the second high LTV deal of the year. Through STACR, its flagship credit risk transfer offering, Freddie Mac transfers a significant portion of its mortgage credit risk on certain groups of loans to private investors.”

CNBC “Hudson’s Bay real-estate monetization may be inevitable, but market tepid” (6-13-2017)

“Hudson’s Bay could face investor pressure to monetize a portion of its $10 billion-plus global real estate portfolio at the Canadian retailer’s annual shareholder meeting on Tuesday amid skepticism that last week’s restructuring plans aimed at saving $350 million will be insufficient to battle a tough real estate market.”

New York Post “Two financial firms close massive real estate deals” (6-13-2017)

“Two large financial-firm leases that were in the works have just been signed — and in the year’s biggest non-surprise, neither was in East Midtown.”

Mortgage Professional America “Another disruptor enters real estate space” (6-13-2017)

“A tech start-up is hoping to disrupt the real estate industry with the launch of its new business model.  REALICITY is launching in New York initially before a national roll-out and wants to make real estate agent commissions a thing of the past by offering sellers a service for a fixed fee.”

 

Aaron Norris will be presenting his latest talk Technology Trends and Effects on Real Estate with NorcalREIA on Wednesday, June 14.

Bruce Norris will be speaking at the NSDREI 13th Anniversary Dinner Party on Tuesday, June 20.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with the South Orange County Real Estate
Club on Thursday, June 22.

Looking Back:

A lot more real estate investors were starting to look elsewhere outside the United States, including Europe, for good deals on investing.  A new survey by the NAR showed a big impact on homeownership was millennials choosing to put off owning a home and taking care of student debt first.  Fannie Mae was offering a new loan that would broaden the scope of options for homeowners seeking to save energy.

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.

 

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The Norris Group

Phone: (951) 780-5856

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