Apr 28, 2016

Increase in Interest Rates Frozen by the FOMC

Today’s News Synopsis:   Increases in interest rates were frozen once again by the Federal Open Market Committee.  The Mortgage Bankers Association released their first survey of 2016 for Commercial/Multifamily Originations, showing them to be 38% lower this quarter than the previous quarter of 2015.  Pending home sales increased 1.5% to

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Apr 11, 2016

Wells Fargo Required to Pay $1.2 Billion In the Largest Settlement in FHA History

Today’s News Synopsis:   Wells Fargo is required to pay $1.2 billion, the largest settlement in the history of the FHA, to cover the costs of bad loans that went undisclosed.  Another bank, Goldman Sachs, is also required to pay to cover the cost of toxic mortgage bonds in a

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Mar 14, 2016

U.S. Census Bureau Releases Data On States With Highest Taxes on Properties

Today’s News Synopsis:   Unlike the millennial generation, more baby boomers are choosing to own a home as opposed to renting.  Mortgage debt on commercial and multifamily properties showed strong increase in 2015, increasing to $2.83 trillion in the fourth quarter.  The U.S. Census Bureau recently released their list of

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Aug 21, 2015

Credit-Risk Sharing Bonds Will Continue to Be Issued By GSEs

    Sources: Delinquency Rate Continues Rapid Decline Driven by Higher Quality Originations Home Sales Up Year-Over-Year; Reach Highest Level Since 2008 Freddie Mac: Mortgage rates barely nudge, stay below 4% July home sale numbers are in California cool: Home sales drop 4% despite price plateau Builder Confidence Rises One

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Feb 03, 2015

Mortgage Fraud Decreased 2% by Quarter and 9% Year-Over-Year

    Today’s News Synopsis: CoreLogic reported an increase in home prices by 7.4% year-over-year in December.  Mortgage originations increased 27% quarter-over-quarter for both commercial and multifamily properties.  Mortgage fraud decreased last year by 2% quarter-over-quarter and 9% year-over-year according to Interthinx. In The News: Mortgage Bankers Association – “2014 Q4

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Sep 04, 2014

Employment in Private Sector Increases by 204,000

        Today’s News Synopsis: Freddie Mac reported mortgage rates are at a year’s low with 30-year rates at 4.1% and 15-year rates at 3.24%.  Employment in the private sector increased month-over-month by 204,000.  Commercial and multifamily delinquency rates decreased in the second quarter by 0.45% to 5.71%

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Jun 09, 2014

Housing Market Held Back By Buyer Concerns

Today’s News Synopsis: The recent consumer survey by the Federal Reserve Bank of New York showed consumers in every region accept the South expect home prices to increase.  Outstanding mortgage debt for commercial and multifamily properties increased by $11.1 billion in the first quarter, a 0.4% increased from the fourth

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Mar 04, 2014

The Norris Group Real Estate News Roundup 3/4/14

Today’s News Synopsis: The Mortgage Bankers Association reported commercial and multifamily delinquency rates decreased 0.01 percentage points to 0.05% in the fourth quarter.  Another bank closed in Pennsylvania, putting the number of bank closures for 2014 now at 5.  HUD secretary Shaun Donovan just released the newest proposed budget for

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Oct 25, 2013

The Norris Group Real Estate News Roundup 10/25/13

  Today’s News Synopsis: Thank you to all of us who joined us for I Survived Real Estate 2013.  If you did not get a chance to check us out live, the event will be airing on the radio show starting this weekend and is available in video at https://www.thenorrisgroup.com/free_resources/i-survived-real-estate/i-survived-real-estate-2013/.

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Jul 30, 2013

The Norris Group Real Estate News Roundup 7/30/13

Today’s News Synopsis: According to the latest S&P/Case-Shiller Index, home prices increased 12.2% and are now at their highest in 7 years.  Foreclosures, on the other hand, decreased by 20% last month.  The Mortgage Bankers Association reported a 7% increase in commercial and multifamily mortgage originations in the second quarter

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