In JPM settlement, CA AG Harris raises profile

Posted by & filed under Stockton Real Estate.

They say that AG doesn’t stand for attorney general — it stands for “aspiring governor.” In California, the saying certainly seems true for current Attorney General Kamela Harris, who has been carving out a name for herself by pursuing banks over their bubble-era lending practices. …read more

S&P: Banks face $104bn liability on mortgage cases

Posted by & filed under Stockton Real Estate.

That talk about the JPMorgan Chase & Co (JPM) settlement being the end of the road? Think again. Credit rating agency Standard & Poor’s said today that they expect U.S. Banks will have to pay between $56.5 billion and up to $104 billion to put their legacy mortgage issues behind them. …read more

The Rush for Rentals by Investors Turns Into a Run for the Exit

Posted by & filed under Stockton Real Estate.

By Mandelman This is the story of Dumb and Dumber… The list of private-equity firms that over this past year have been rushing to get a stake in the supposedly red hot single-family home market include: Colony Capital LLC, Oaktree Capital Group LLC, KKR & Co., GTIS Partners and Och-Ziff Capital Management LLC, and Waypoint […]

2014 ushers in 5% mortgage rates

Posted by & filed under Stockton Real Estate.

With 2014 right around the corner, the housing market will have to embrace a lot more than just an onslaught of new housing regulations, with Freddie Mac predicting that rates will likely touch 5% by the end of the new year. …read more

Artis Real Estate Investment Trust’s Preferred Units, Series C, Cross 6% Yield … – Forbes

Posted by & filed under Stockton Real Estate.

Artis Real Estate Investment Trust’s Preferred Units, Series C, Cross 6% Yield …ForbesIn trading on Tuesday, shares of Artis Real Estate Investment Trust’s Preferred Units, Series C (Toronto: AX-PRE) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.1875), with shares changing hands as low as $19.57 on … and more […]

Conforming loan limit remains at $417,000 for 2014

Posted by & filed under Stockton Real Estate.

After much debate, the Federal Housing Finance Agency announced that the 2014 conforming loan limit for mortgages acquired by Fannie Mae and Freddie Mac will remain at $417,000 for one-unit properties in most areas of the country, which will likely remain despite leadership changes. …read more

High School Teacher Turned Multi-Millionaire: It Works! – Forbes

Posted by & filed under Stockton Real Estate.

High School Teacher Turned Multi-Millionaire: It Works!ForbesPentecost filled the void investing in commercial real estate. “I thought I was going to be the Donald Trump of Grand Rapids.” But the pull of direct sales persisted and he searched for something to sell that could provide the foundation for a new company. …read more

FHA loans out, private MI in

Posted by & filed under Stockton Real Estate.

A few years back, buyers with less-than-pristine credit or little downpayments for a mortgage had only one viable route: the Federal Housing Administration, which offered cheap loans with little downpayments required. That was then. This is now, and now is a world where private MI is making a serious comeback. …read more

Feds want to add Wells Fargo VP to court case

Posted by & filed under Stockton Real Estate.

The U.S. government wants to add Wells Fargo (WFC) Vice President Kurt Lofrano personally to its lawsuit involving claims that the bank defrauded the U.S. Department of Housing and Urban Development — saying the executive played a “critical role” in Wells Fargo’s decision to hide fraudulent loans from the government agency. …read more

Foreclosures up, short sales decline – The Intelligencer (blog)

Posted by & filed under Stockton Real Estate.

The Intelligencer (blog)Despite the nationwide increase, home sales continued to decrease on an annual basis for the third consecutive month in three bellwether western states: California (down 15 from a year ago), Arizona (down 13 percent), and Nevada (down 5 percent). The …Foreclosure Auction Sales and Bank-Owned Sales Increase From Year Ago in …SYS-CON Media […]

Next up in eminent domain debate: Baltimore?

Posted by & filed under Stockton Real Estate.

The debate over eminent domain as a tool to sieze underwater mortgages from banks and trusts rages on, and has gone from city to city as local municipalities grapple with ways to help build or restore their tax base help homeowners. The latest city being pushed to consider the use of the controversial tactic is […]

Have mortgage settlements helped homeowners?

Posted by & filed under Stockton Real Estate.

After the latest mortgage settlement arrived a week ago, this one involving JPMorgan Chase & Co. (JPM) and the Federal government to the tune of $13 billion, NPR asks: what have the earlier mortgage settlements done to help homeowners? …read more