Today’s News Synopsis:
In The News:
Los Angeles Times – “Registration begins for $3,000 grants to retrofit homes against earthquakes” (1-20-16)
“Officials will begin accepting applications Wednesday for homeowners to get grants of up to $3,000 to earthquake retrofit single-family homes with a common structural flaw that can cause houses to fall off their foundation.”
DS News – “Freddie Mac Drops Suit Against Deloitte” (1-20-16)
“Freddie Mac has dropped its $1.3 billion lawsuit against Deloitte & Touche that accused the accounting firm of negligence regarding the auditing of certain mortgage loans the GSE purchased from now-defunct mortgage lender Taylor Bean & Whitaker, according to media reports.”
Mortgage Bankers Association – “Applications for New Home Purchases Decreased in December” (1-20-16)
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2015 shows mortgage applications for new home purchases decreased by 5 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.”
Mortgage Professional America – “Top marketing strategies for 2016” (1-20-16)
“Having a well thought out marketing strategy – along with the right tools – makes it easier for loan officers and branch managers to generate more production with far less effort. There are plenty of tools that mortgage loan officers and branch managers have at their disposal, but developing a good marketing strategy is a key component to success.”
“Nationwide housing starts increased 10.8 percent to 1.11 million units in 2015, according to newly released figures from HUD and the U.S. Commerce Department. Single-family starts posted a yearly gain of 10.4 percent to 715,000 units.”
Mortgage Bankers Association – “Refinance Mortgage Applications Increase as Rates Fall in Latest MBA Weekly Survey” (1-20-16)
“Mortgage applications increased 9.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 15, 2016.”
Housing Wire – “Goldman Sachs earnings dented by RMBS settlement” (1-20-16)
“Goldman Sachs recorded net revenues of $33.82 billion and net earnings of $6.08 billion for the year ended Dec. 31, 2015, with diluted earnings per common share dropping to $12.14 compared with $17.07 last year.”
Mortgage Professional America – “Big bank mortgage trends revealed” (1-20-16)
“Three of the biggest mortgage originators have now released their fourth quarter income; this is how their mortgage portfolios performed. Wells Fargo, Chase, and – most recently – the Bank of America have all released their respective fourth quarter earnings information, detailing how their mortgage share is changing.”
DS News – “Freddie Mac, Lenders One Partner to Help Mortgage Bankers in 2016” (1-20-16)
“Freddie Mac and the Lenders One Mortgage Cooperative recently partnered to help mortgage bankers boost their business in 2016.”
Hard Money Loan Closed
Riverside, California hard money loan closed by The Norris Group private lending department. Real estate investor received loan for $107,000 on this single family property appraised for $165,000.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with AOA Los Angeles on Thursday, January 21.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with AOA San Diego on Tuesday, January 26.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Orange County FIBI on Tuesday, February 2.
Image copyright source: www.flickr.com/photos/fdotguido
The NAHB reported builder confidence decreased by one point and stood at 57. Obama’s State of the Union Address focused on issues regarding housing, including increases in taxes. Freddie Mac said they expected housing to see a brief increase in 2015, although it was not known for how long.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.