FICO

Is LA taking This Rent Control Thing A Little Too Far?

Today’s News Synopsis: Eminent domain in the name of affordable housing?  Mortgage maturity volume for both commercial and multifamily properties are expected to increase by 48% this year.  If you are holding out to buy until house prices drop, you may be waiting longer than you think. In The News: Reason – “L.A. Politicians Want To …

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New Bill Would Allow GSEs Alternative to FICO Scoring

Today’s News Synopsis:   The Mortgage Bankers Association reported a 6% decrease in home purchase applications in their latest Builder Application Survey.  Freddie Mac reported mortgage rates increased slightly with 30-year rates now at 3.95% and 15-year rates at 3.16%.  The House of Representatives introduced a new bill that would allow Fannie Mae and Freddie …

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All Cash Sales for Homes Decrease to 38.9% in January

  Today’s News Synopsis: New home purchase applications increased last month by 17% according to the Mortgage Bankers Association.  All cash sales for homes decreased in January to 38.9%, down from 41.4% year-over-year.  Mortgage rates decreased again with the weak job market; 30-year rates now stand at 3.66% and 15-year rates are at 2.93%.   …

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FHA Looking for Alternative Method for Credit Scoring

          Sources: Pending home sales surge again in February Home prices dropped in January from December Freddie Mac: Mortgage rates barely move Bill would require Dodd-Frank, CFPB to be subject to 10-year review GSE reform could happen sooner than expected More than one-third of America holds no emergency savings   Today’s …

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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% in the second quarter. In …

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50-$79 Billion of Outstanding HELOC May Be at Risk of Default

          Today’s News Synopsis: Carol Galante, the former Commissioner for the FHA, will be leaving the organization late this year in order to focus on her new position as the I. Don Terner Distinguished Professorship in Affordable Housing at the University of California, Berkeley.  According to a recent survey published by …

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New Ruling by CFPB Will Help Property Heirs Avoid Foreclosure

  Today’s News Synopsis: CoreLogic reported foreclosures decreased again this past May by 9.4% with 47,000 completed that month.  The amount of available mortgage credit increased last month by 0.6% to 115.8, up from 115.1.  A new ruling was just issued by the CFPB that will help heirs of property to be included on the …

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Selma Hepp of CAR Joins Bruce Norris on the Real Estate Radio Show #373

Bruce Norris is joined again this week by Selma Hepp. Selma is the senior economist for the California Association of Realtors, a statewide trade organization with more than 100,000 members dedicated to the advancement of professionalism in real estate. Selma directs the activities of the association’s research and economics group. She oversees the research and …

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #367

Bruce Norris is joined again this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. They do about $20 million in volume a month. He has been with them for four and a half years and has been in the industry for 28 years. They had just begun the discussion about …

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