Norris Bruce
Jun 07, 2016

Bruce Norris Believes Lender Hesitancy Holding Back Real Estate Growth

Today’s News Synopsis:

In a story featuring our very own Bruce Norris, he believes one thing holding back growth in the real estate industry is lenders being selective about who they give loans.  The Mortgage Bankers Association reported delinquency rates for commercial/multifamily mortgages are still relatively low while CMBS loans are at an all-time low.  A new alternative to Dodd-Frank is being presented today by the Republican party.

In The News:

DS News – “Republicans Roll Out Dodd-Frank Alternative” (6-7-16)

“Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, on Tuesday morning announced the GOP’s much-anticipated and much-talked about proposed alternative to Dodd-Frank, entitled the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs) Act.”

Housing Wire – “Mortgage banker profit starts to recover post-TRID” (6-7-16)

“Mortgage bankers are starting to rebuild after the financial storm caused by TRID at the end of the fourth quarter, with profits roughly doubling at the start of this year compared to the end of last year.”

Mortgage Professional America – “Morning Briefing: Cash sales reach 62 per cent for low-value homes” (6-7-16)

“Homes in the lowest 20 per cent of market value are more likely to be bought for cash according to mortgage data firm Black Knight Financial.”

GlobeSt.com – “Lender Restraint Stunting Real Estate Growth” (6-7-16)

“The inability of lenders to say yes to anybody other than borrowers with great credit risk is a problem that may not change for the foreseeable future, the Norris Group’s principal Bruce Norris tells GlobeSt.com.”

Mortgage Bankers Association – “Commercial/Multifamily Mortgage Delinquency Rates Low, Record Decline for CMBS Loans” (6-7-16)

“Delinquency rates for commercial and multifamily mortgage loans remained low in the first quarter of 2016, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.”

Recode – “This real estate startup will you a 30-day return policy on your new house” (6-7-16)

“First, Opendoor wanted to make it easier to buy or sell a home. Now, it wants to make it possible to return one.  The online real estate startup will start giving homebuyers who use its service a 30-day window to return a home, a rarity in the real estate industry.”

Redfin – “Election-Year Gloom Weighs On Homebuyers” (6-7-16)

“Redfin has been asking homebuyers and sellers about the presidential campaign this year, with interesting results.  As voters go to the polls and caucus in California, New Mexico, New Jersey and five other states today, nearly a thousand homebuyers in our latest survey gave us their opinions on Hillary Clinton, Donald Trump, Bernie Sanders and election-year politics.”

Mortgage Bankers Association – “Independent Mortgage Bank Profits Up from Previous Quarter, Down Year-over-Year” (6-7-16)

“Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $825 on each loan they originated in the first quarter of 2016, up from a reported gain of $493 per loan in the fourth quarter of 2015, the Mortgage Bankers Association (MBA) reported today in its Quarterly Mortgage Bankers Performance Report.”

DS News – “Help for Property Owners Facing ADA Claims: Governor Brown Signs Senate Bill 269” (6-7-16)

“New Senate Bill 269 may help property owners sued for violation of handicapped accessibility (ADA) laws. It provides protection for claims filed on and after May 10, 2016.”

 

Hard Money Loan Closed

San Jacinto, California hard money loan closed. Real estate investor received loan for $54,000 on this single family property appraised for $90,000.

San Jacinto Hard Money Loan closed by the Norris Group

 

California Real Estate Investor Events

Bruce Norris will be speaking at Insight 2016: What Inning Are We Really In? on Friday, June 10.

Aaron Norris will be presenting his newest talk Marketing Trends and Strategies for Real Estate Pros in 2016 with CVREIA on Tuesday, June 14.

Bruce Norris will be speaking at the 12th NSDREI Birthday Celebration on Tuesday, June 21.

 

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.











The Norris Group

Phone: (951) 780-5856

Fax: (951) 780-9827

1845 Chicago Avenue, Ste C,
Riverside, CA 92507

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