Mortgage Newsletters Archive Description http://www.mortgagenewsdaily.com/reports/newsletter/archive Recognizing that real estate investors have played a key role in the state's housing market recovery, the California Association of Realtors® (C.A.R.) recently surveyed its members about their interactions with investor customers and have developed a profile of investors and their behavior. Two-third of investors are following a long term strategy in investing, buying and holding property although three-quarters of intend to hold the property for less than six years . About one-quarter (26 percent) of inventors buy property in order to flip it. Most investors, about 75 percent , are what C.A.R. termed small mom-and-pop type , owning between one and ten investment properties. Fifteen percent own one property, 46 percent own two to five, and 14 percent own six to 10. Owners manage more than http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/21/418 http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/21/418 Tue, 21 May 2013 20:39:51 GMT Fannie Mae's economic and strategic research team today called the housing recovery "undeterred" after it contributed 0.3 percentages points to economic growth in the first quarter. Doug Duncan, Orawin T. Velz, and Brian Hughes-Cromwick said this was the eighth consecutive quarter that housing has added to growth and the company's Economic Summary for May said recent housing indicators point to continued recovery. The annualized rate of housing starts in March was over one million units for the first time since 2008 , driven solely by a surge in multi-family building which more than offset a decline in single-family construction. Multi-family housing starts are now back to the levels of the early 2000s, benefitting the report says from a continuing decline in homeownership which fell again http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/20/416 http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/20/416 Mon, 20 May 2013 20:58:18 GMT Senator Bill Nelson (D-FL has asked for an investigation and possible "crackdown" on the manner in which short sales are impacting consumer credit files . Nelson said that short sales are now often reported to the credit agencies using the same code that designates a completed foreclosure. In letters sent earlier this month to Edith Ramirez, Chairwoman of the Federal Trade Commission (FTC) and Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB) Nelson called the credit coding practice "disturbing" and said that there are key differences between a short sale and a foreclosure and both have major but different implications for consumers' credit ratings. "If a short sale is reported as a foreclosure, it could unfairly ruin short sellers' credit scores and make it more http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/17/413 http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/17/413 Fri, 17 May 2013 21:00:37 GMT CoreLogic said today that home prices are projected to increase 3.9 percent on an annualized basis between the fourth quarter of 2012 and the same quarter in 2017. However, a new housing bubble is not likely as market dynamics shift for both supply and demand. Prices rose 7.3 percent in 2012. The CoreLogic Case-Shiller Index report notes that the increase in 2012 was the strongest rate of appreciation in nearly seven years and projected that prices will continue to improve in 2013 and beyond in the more than 380 U.S. markets it tracks. The company's current analysis says that, "Cities at epicenter of housing bubble/crash are clocking highest rate of appreciation, largely driven by investor demand." "Home prices were up in seven out of every 10 metro areas in 2012. By comparison, in 2011 prices http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/16/411 http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/16/411 Thu, 16 May 2013 21:00:48 GMT The percentage of loans originated for purchasing homes increased again in April , the third consecutive month they have done so. According Ellie Mae's Origination Insight Report for April, those loans made up 42 percent of the total originations during the month compared to 38 percent in March and 27 percent in January. It was the largest market share since July 2012 when purchase mortgages also made up 42 percent of the total. The average interest rate on a 30 year fixed-rate mortgage in April was 3.808 compared to 3.908 for all loans closed in 2012. FHA loans made up 22 percent of originations and Conventional loans 68 percent compared to 21 percent and 70 percent respectively in March. Fifteen-year mortgages made up 15.3 percent of all mortgages and adjustable rate mortgages had a 3.2 percent http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/15/409 http://www.mortgagenewsdaily.com/reports/newsletter/2013/5/15/409 Wed, 15 May 2013 22:45:17 GMT