The latest S & P and Dow Jones Indices showed default rates for bank cards were at their highest in almost 4 years in January, up three basis points from 0.92%. Several holders of hedge funds were unsuccessful in their attempt to have a ruling overturned that would allow them to sue the government over changes in investments and dividends following the GSE’s bailout. Freddie Mac cited challenges in their latest insight report, specifically over the aging population who want to stay in their home but cannot have it retrofitted for their changing needs.
“For the past six years, there has been a quiet revolution in the mortgage market: Big banks like JPMorgan, Bank of America and Citibank have moved out and nonbank lenders such as Quicken, loanDepot and Caliber Home Loans have moved in — in a big way.”
Bloomberg – “Hedge Funds Can’t Sue Over Investments in Fannie and Freddie” (2-21-2017)
“A federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout, sending shares plunging.”
Freddie Mac – “Older Americans Face Challenges When Aging in Place” (2-21-2017)
“Freddie Mac (OTCQB: FMCC) released today its Insight for February, which outlines challenges, costs and potential solutions of addressing the desire of older Americans to age in place.”
Yahoo Finance – “Macy’s beats on earnings, says it made $673 million from unloading real estate” (2-21-2017)
“Macy’s released fourth-quarter earnings on Tuesday, beating slightly on sales and earnings. The retailer posted adjusted earnings of $2.02 per share, higher than the $1.96 per share expected by analysts. In addition, comparable sales — or those at stores open longer than a year — fell by 2.1% from the same quarter a year ago, but was a bit better than the 2.2% fall expected by analysts.”
“Data through January 2017, released today by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, shows the composite rate up three basis points from the previous month at 0.92% in January.”
Bloomberg – “Fed’s Williams Says Historically Low Interest Rates Will Persist” (2-21-2017)
“Historically low interest rates are here to stay, making it much harder for central banks in wealthy countries to prevent and limit recessions in the future, according San Francisco Federal Reserve Bank President John Williams.”
DNA Info – “Here’s the Psychology at Work Behind NYC Real Estate Listings” (2-21-2017)
“From pricing to staging, there’s an art to luring would-be home buyers that taps into the psychology of the New York City real estate market, brokers say.”
DS News – “Neel Kashkari Discusses Bailouts, Dodd-Frank, and More” (2-21-2017)
“On Tuesday, President of the Federal Reserve Bank of Minneapolis and former Assistant Secretary of the Treasury for Financial Stability Neel Kashkari held a Q&A with members of the Financial Planning Association of Minnesota in Golden Valley.”
Mission Viejo, California hard money loan closed. Real estate investor received loan for $210,000 on this single family property appraised for $345,000.
Bruce Norris will be speaking at 2017 Real Estate Market Forecast with Coldwell Banker on Tuesday, March 7.
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor at NORCALREIA on Wednesday, March 8.
Aaron Norris will be presenting 2 Major Trends For Marketing Dominance in 2017 with OCREIA on Thursday, March 9.
Image copyright source: www.flickr.com/photos/armydre2008
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.