Today’s News Synopsis:
In The News:
NAHB – “Builder Confidence Rises One Point in August” (8-17-15)
“Builder confidence in the market for newly built, single-family homes in August rose one point to a level of 61 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since November 2005.”
DS News – “Delinquency Rate Continues Rapid Decline Driven by Higher Quality Originations” (8-17-15)
“The delinquency rate on mortgages, or the percentage of mortgages on which borrowers are 60 or more days overdue with their payments, declined by 20 percent year-over-year in Q2 down to 2.72 percent, according to TransUnion’s Industry Insight Report for Q2 released Monday.”
Housing Wire – “Ginnie Mae just had it’s biggest month ever” (8-17-15)
“Lest anyone think that the government’s position in housing isn’t more than firmly entrenched, Ginnie Mae announced last week that in July it set a record for mortgage-backed security issuance.”
Mortgage Professional America – “CFPB releases important TRID document” (8-17-15)
“The TRID deadline is quickly approaching and the CFPB has just made it easier for industry players to ensure they’re up to the task of implementing the new rules.”
DS News – “‘Foreclosure Predicament Persists’ in New York” (8-17-15)
“New York State Comptroller Thomas DiNapoli said that despite recent leveling off of foreclosures in the state, the problem is ‘far from resolved,” according to a report released by DiNapoli’s office on Monday titled “The Foreclosure Predicament Persists.'”
Mortgage Professional America – “Boom on the horizon for certain players” (8-17-15)
“The commercial real estate sector in California has reached its highest level since 2001, according to a UCLA real estate survey, which examined seven of the state’s major markets.”
DS News – “FHA Introduces Lender Evaluation Metric to Expand Credit Access” (8-17-15)
“The Federal Housing Administration (FHA) announced Monday a new method that will be used to evaluate the lending practices of FHA-approved lenders and help them understand the type of borrowers they are serving.”
Bloomberg – “U.S. Stocks Advance as Homebuilders Rally Amid Economic Reports” (8-17-15)
“U.S. stocks rose, following last week’s gain in the Standard & Poor’s 500 Index, with homebuilders pacing the advance amid light volume before further clues from the Federal Reserve on the path for interest rates.”
Housing Wire – “Rising home, construction prices knock a dent in affordability in 2Q” (8-17-15)
“Firming home prices in many housing markets resulted in a modest drop in nationwide housing affordability in the second quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.”
Mortgage Professional America – “Morning Briefing: Maryland housing market shows consistent growth” (8-17-15)
“Another state’s realtors have reported strong growth in the market during July. Maryland Association of Realtors says that home sales rose for the seventh consecutive month; up 20 per cent in July compared to a year earlier.”
Bruce Norris of The Norris Group will be giving his Secrets to Becoming Wealthy with Tony Watson on Tuesday, August 18.
Bruce Norris of The Norris Group will be presenting his How to Create a $100,000 Payday Per Deal in 2015 on Wednesday, August 19.
Bruce Norris of The Norris Group will be presenting the 8th annual I Survived Real Estate 2015 on Friday, October 16.
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