Today’s News Synopsis:
In The News:
DS News – “Low Mortgage Delinquency Levels Stabilize Consumer Credit Market” (11-16-15)
“Mortgage delinquency rates continued their trend of year-over-year double-digit declines in the third quarter of 2015, which contributed to the strong performance of consumer credit markets during Q3, according TransUnion’s Q3 2015 Industry Insights Report released Monday.”
Bloomberg – “McDonald’s REIT Proponent Larry Robbins Sells State in Company” (11-16-15)
“Hedge-fund manager Larry Robbins, who pushed for McDonald’s Corp. to spin off its real estate, has sold his firm’s stake in the fast-food chain.”
Housing Wire – “FHA business explodes: Reaches capital mandate for first time since 2008” (11-16-15)
“Flying directly in the face of speculation that the 50 basis point-cut of the Federal Housing Administration’s annual mortgage insurance premiums would negatively effect the health of the FHA’s Mutual Mortgage Insurance Fund, the FHA announced Monday that the MMI Fund actually grew significantly in fiscal 2015, reaching its Congressionally mandated threshold of 2% well ahead of schedule.”
Mortgage Bankers Association – “MBA Statement Regarding FHA’s Annual Report to Congress” (11-16-15)
“David H. Stevens, President and CEO of the Mortgage Bankers Association, issued the following statement today after the Federal Housing Administration (FHA) released its annual report to Congress.”
“The Five Star Institute had a strong presence at the 12th Annual National Property Preservation Conference (NPPC), which began Monday in Washington, D.C. Five Star President and CEO Ed Delgado presented the opening remarks for the event on Monday morning and moderated two panel discussions on Monday, a State of the Industry discussion and a panel focused on Transforming Blighted Communities.”
Bloomberg – “Here’s How Today’s Higher Home Prices Differ From Bubble Era” (11-16-15)
“An ongoing rebound in U.S. home prices is different from the credit-fueled run up that fanned the financial crisis and tipped the nation into recession when the real estate bubble burst, economists at the Federal Reserve Bank of San Francisco find in new research.”
Housing Wire – “House to vote Monday on limiting GSE CEO pay” (11-16-15)
“After being delayed two weeks by a busy Congressional calendar, the House of Representatives is scheduled to vote Monday evening on a bill that would limit the compensation packages of Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton.”
DS News – “Ocwen Closes Servicing Advance Securitization Worth $600 Million” (11-16-15)
“Ocwen Financial announced on Monday that it has closed an offering of fixed-rate asset-backed term notes issued by Ocwen Master Advance Receivables Trust (OMART) and totaling $600 million in aggregate principal.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with SDCIA on Tuesday, December 8.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with Prosperity Through Real Estate on Tuesday, January 5.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with CVREIA on Tuesday, January 12.
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.