The Norris Group Real Estate News Roundup 2/2/11

Mortgage application volume increased 11.3% from last week, according to the MBA. Fannie Mae and Freddie Mac are raising risk fees they charge lenders on loans they buy for resale to investors. HOPE NOW reports 1.76 million homeowners received a mortgage modification in 2010. Statistics from DBRS show 50 percent of loan modifications result in re-default.

The Norris Group Real Estate News Roundup 12/14/10

In The News: Mortgage Bankers Association – “MBA Study Shows Mortgage Banker Production Profits Improved with Higher Refinancing Activity in Third Quarter 2010” (12-14-10) “Independent mortgage banks and subsidiaries made an average profit of $1,423 on each loan they originated in the third quarter of 2010, up from $917 per loan in the second quarter …

The Norris Group Real Estate News Roundup 12/14/10 Read More »

The Norris Group Real Estate News Roundup 11/18/10

Delinquencies on residential properties dropped 9.13% in the third quarter, according to the MBA. MDA DataQuick’s monthly statistics releases shows that 6,122 new and resale houses and condos closed escrow in the Bay Area. The CBIA reports California housing affordability increased 1.7% in the 3rd quarter. Jobless claims increased by 2,000, said the Labor Department.

The Norris Group Real Estate News Roundup 11/10/10

A lack of cooperation between big banks and investors is causing the California foreclosure program to be delayed. The FDIC approved a proposal that would base fees on banks’ liabilities rather than their domestic deposits. Zillow expects home values to continue to depreciate through the end of the year. The National Commission on Fiscal Responsibility and Reform suggested limiting mortgage interest rate deductions on taxes.

The Norris Group Real Estate News Roundup 11/4/10

The MBA reports 3rd quarter commercial and multifamily mortgage loan originations increased 15% from the 2nd quarter. Jobless claims rose 4.5% last week. JPMorgan’s CEO claimed recent affidavit problems affected approximately 127,000 mortgage loans. Bruce Mosler of Cushman & Wakefield Inc. believes commercial real estate rents will rise in 2011.

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