Today’s News Synopsis:
Republicans are planning on announcing a new plan to bring major reform for Dodd-Frank, which would include replacing both the act itself and many of its financial reforms. The latest Case-Shiller Index shows home prices increased 5.4% across the nation and 5.1% in the top 10 metropolitan areas, revealing prices to be increasing double the speed of inflation. The latest Home Value Forecast by Pro Teck Valuation Services showed an increasing gap between hot and cold markets.
In The News:
Housing Wire – “Republicans set to unveil plan to replace Dodd-Frank” (5-31-16)
“Later this year, the Dodd-Frank Wall Street Reform and Consumer Protection Act will reach its sixth anniversary, but if Congressional Republicans have their way, Dodd-Frank won’t reach anniversary number seven and many of the financial reforms enacted by the landmark law will be repealed or replaced.”
Realty Trac – “Presidential Candidates Home Disclosure Scorecard” (5-31-16)
“One part of becoming president involves moving into a new home. And that new home — even if it’s the White House — comes with its own set of benefits, concerns and potential risks, all of which could impact the health, safety and financial security of the new homeowner.”
Mortgage Professional America – “New guidelines help reverse industry gain steam” (5-31-16)
“If you aren’t writing reverse mortgages, you have lots of company. Volume has tumbled over the last few years as the FHA implemented new regulations designed to protect consumers.”
DS News – “‘Housing Gap’ is Widening Within Some Metros” (5-31-16)
“There are “hot” and “cold” housing markets spread out all over the country as each market has recovered at its own pace. The gap between hot and cold housing communities in some cases exists within the same core-based statistical area (CBSA), according to Pro Teck Valuation Services’ latest Home Value Forecast.”
Bloomberg – “Fed Rate Hike Plans Hinge on April Data” (5-31-16)
“Raymond James Chief Economist Scott Brown discusses Fed policy, the markets and the U.S. economy. He speaks on ‘Bloomberg Markets.'”
Housing Wire – “Case-Shiller: Home prices rising twice as fast as inflation” (5-31-16)
“Today, S&P Dow Jones Indices released its results for the Case-Shiller Home Prices Indices which showed an annual increase of 5.4% in January 2016 for national home prices.”
Mortgage Professional America – “Fraud charges against ‘face of housing crisis’ overturned” (5-31-16)
“When an appeals court overturned a $1.27 billion judgment against Bank of America last week, it also took an action that didn’t get much press – it voided fraud charges and tossed a penalty against the executive the New York Times once called ‘the face of the housing crisis.'”
DS News – “What is Driving the GSE Default Rate Down?” (5-31-16)
“The credit quality of loans purchased by both Fannie Mae and Freddie Mac has greatly improved since 2008, thus leading to cumulative defaults for both GSEs on a pace to fall below pre-2003 levels, according to data released by the Urban Institute.”
Hard Money Loan Closed
Hemet, California hard money loan closed. Real estate investor received loan for $100,000 on this single family property appraised for $169,000.
Bruce Norris will be speaking at the Southern California Chapter of the Appraisal Institute’s 19th Annual Inland Empire Market Trends on Thursday, June 2.
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with West End Real Estate Professional on Friday, June 3.
Aaron Norris will be presenting his newest talk Marketing Trends and Strategies for Real Estate Pros in 2016 with CVREIA on Tuesday, June 14.
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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.