Today’s News Synopsis:
Builder confidence continues to remain unaltered at 54 according to the National Association of Home Builders. Home prices increased quarterly to their highest since the beginning of the housing recovery with the increase in home sales and decrease in foreclosures. JPMorgan Chase just reached a $4.5 billion deal with over 21 investors to settle claims over residential mortgage-backed securities.
In The News:
NAHB – “Builder Confidence Holds Steady in November” (11-18-13)
“Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.”
Housing Wire – “Aggressive bidding in MSR Market fosters new Fannie portfolio sale” (11-18-13)
“The market for mortgage servicing rights remains heated, with MountainView Servicing Group noting it was selected to bring a Fannie Mae mortgage servicing rights portfolio valued at $152 million in unpaid principal balance to market.”
Mortgage Professional America – “Industry group blames D.C. for flat builder confidence” (11-18-13)
“Builder confidence remained flat in November, but most builders still view market conditions as good, according to a report released Monday.”
DS News– “High-Distress Markets Continue to Lead Recovery” (11-18-13)
“Rising home sales and declining foreclosure sales have driven the highest quarterly price increase since the national housing recovery began, according to the latest FNC Residential Price Index.”
Mortgage Professional America – “Investor makes big bet on Fannie, Freddie” (11-18-13)
“Activist investor Bill Ackman just placed one hell of a bet on the future of Fannie Mae and Freddie Mac even as the government continues to insist it plans to wind the companies down.”
Los Angeles Times – “Quicken Loans tops J.D. Power mortgage customer satisfaction survey” (11-18-13)
“Online lender Quicken Loans sits atop J.D. Power & Associates’ survey of mortgage customer satisfaction for a fourth straight year.”
Mortgage Professional America – “CFPB slaps mortgage insurer with fine, monitoring” (11-18-13)
“The Consumer Financial Protection Bureau took action today against a mortgage insurer for allegedly paying kickbacks to lenders in exchange for business.”
DS News – “JPMorgan Strikes Deal with Mortgage Investors” (11-18-13)
“JPMorgan Chase & Co. has reached a $4.5 billion agreement with 21 institutional investors to settle mortgage repurchase and servicing claims on 330 residential mortgage-backed securities (RMBS).”
Hard Money Loan Closed
Riverside, California hard money loan closed by The Norris Group private lending. Real estate investor received loan for $150,000 on a 3 bedroom, 2 bathroom home appraised for $230,000.
Bruce Norris of The Norris Group will be at the NSDREI Holiday Christmas Party at Camp Pendleton in San Diego on Sunday, December 8, 2013.
Bruce Norris of The Norris Group will be at the SDCIA Holiday Christmas Party on Tuesday, December 10, 2013.
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 6pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.
California Real Estate Investing News is a post from: The Norris Group
