First American

More People are Choosing to Purchase Despite Home Prices Being at their Peak in Many Areas

Today’s News Synopsis: CoreLogic reported home prices increased 1.1% month-over-month and 6% year-over-year in July.  The demographic in the real estate market that is showing an increase in purchasing is single women.  Due to interest rates decreasing and wages increasing, more people are choosing to buy despite prices being at their peak in many metropolitan …

More People are Choosing to Purchase Despite Home Prices Being at their Peak in Many Areas Read More »

Wells Fargo Breached 2010 Contract Regarding ARMs According to Recent Ruling By Judge

          Sources: Purchase mortgage application volume reaches highest level since July 2013 Daily Market Update: Mortgage rates slightly higher this week Mortgage Applications Decrease in Latest MBA Weekly Survey Housing starts and permits show deep weakness in March RealtyTrac: Foreclosures see first year-over-year increase since 2010 Based on Recent Signs, Analysts …

Wells Fargo Breached 2010 Contract Regarding ARMs According to Recent Ruling By Judge Read More »

The Norris Group Real Estate News Roundup 5/26/10

The Commerce Department reports sales of new single-family homes rose 14.8 percent in April. Mortgage application volume increased 11.3 percent on a seasonally adjusted basis from one week earlier. The NAR predicts commercial vacancy rates will increase from 16.9 percent in the first quarter of this year to 17.6 percent in the first quarter of 2011. According to Freddie Mac, home prices declined 1.1% in quarter 1 of 2010 compared to the same quarter one year ago.

The Norris Group Real Estate News Roundup 5/10/10

Fannie Mae is asking for $8.4 billion in government aid. According to Fitch Ratings, Serious delinquencies among US Alt-A residential mortgage-backed securities (RMBS) declined in April. First American CoreLogic reports thatunderwater mortgages and borrowers with less than 5% home equity accounted for 28% of all residential properties. Statistics from Zillow show more than a fifth of U.S. mortgage holders owed more than their homes were worth in the first quarter.

The Norris Group Real Estate News Roundup 4/28/10

The MBA reports mortgage loan application volume decreased 2.9 percent last week. The House Financial Services Committee approved a bill to increase capital reserves in the Federal Housing Administration (FHA) and reduce risks to its insurance fund.Republicans voted against the Restoring American Financial Stability Act of 2010. New HUD regulations require all new lender applicants must hold at least $1 million.

The Norris Group Real Estate News Roundup 4/12/10

According to First American CoreLogic, distressed home sales in Orange County are selling 34 percent under the typical market place.Altos Research reports a 0.5 percent in the national median home price. A modification becomes permanent through HAMP after the borrower makes all three monthly payments during the trial period. Fiserv estimates that home prices will not return to the past peak levels until 2025.

The Norris Group Real Estate News Roundup 4/8/10

John Husing estimates that 10,500 new jobs will be created in Riverside during 2010. First American CoreLogic reports distressed sales accounted for 29 percent of the U.S. market. According to the Clear Capital Home Price Index, US home prices dipped 3.9% in the first quarter of 2010. The current rate for 30-year FRM loans is at 5.21%.

The Norris Group Real Estate News Roundup 4/6/10

A recent Fannie Mae survey shows that approximately two-thirds of Americans would still prefer to own a home. Independent mortgage bankers and subsidiaries made an average profit of $890 on each loan they originated in the fourth quarter of 2009.The National Bankruptcy Research Center claims that bankruptcies could total over 1.5 million this year. According to Reis Inc, rent prices declined by 1.6 percent from last year.

The Norris Group Real Estate News Roundup 3/29/10

A study from USC shows that immigrants are more attracted to mid-size cities. Goodman claims HAMP is bound to fail because of its failure to address negative equity. According to Realpoint, the delinquency rate among commercial mortgage-backed securities reached 6 percent last month. First American CoreLogic estimates the average home experiencing negative equity will not obtain positive equity until late 2015.

The Norris Group Real Estate News Roundup 3/15/10

Builder confidence decreased by over 10 percent since the beginning of March. Sacramento home sales decreased by 26 percent from last year. According to LPS, the U.S. mortgage delinquency rate is currently at 10.25%. California contributed $2.6trn to the total $5.7trn of US housing wealth lost since the peak of 2006.