Thursday, October 31, 2013

Mortgage News roundup

 

Mortgage ConceptMortgage News Roundup

In today’s mortgage news roundup, we look at another bank that had to settle lawsuits, the idea of test-driving a home before you buy, and more reasons to buy or refinance before 2014 hits.

Ally settles U.S. regulators’ mortgage securities claims

Residential Capital LLC, the former mortgage unit of Ally Bank, has agreed to settle lawsuits by two U.S. regulators over alleged misstatements about its residential mortgage-backed securities.
Residential Capital is under Chapter 11 Bankruptcy protection right now, and will have their bankruptcy exit plan reviewed in a hearing on November 19th.
Alfred Pollard, general counsel for FHFA, said in a statement that details will be released after the end of the current fiscal quarter, as both sides continue to hash out final terms. Ally was one of 18 financial institutions sued by the FHFA in 2011.  FHFA targeted companies that they felt made false or misleading statements relating to some $200 billion in residential mortgage-backed securities bought by Fannie Mae or Freddie Mac. FHFA is the conservator organization for Fannie Mae and Freddie Mac.
David Barr, a spokesman for the FDIC, said that agency’s settlement was worth $55.3 million, and resolves four lawsuits against Ally related to mortgage-backed securities.

Quirky Trend Could Save You From Buying The Wrong House.

Try before you buy works well with automobiles, but what about houses?
There is a new trend that allows serious potential home buyers to spend some time alone in the property without the pressure of anyone else. It allows the buyer to pretend that they are living there. You suddenly see things that you might not have just doing a walk through. You could pretend to cook and discover that you don’t like the way the oven door opens into the doorway.
Or that you thought you’d enjoy living next to a park, but weren’t expecting the crush of cars with people who exercise at 5:30am or 6:30pm.

Mortgage refinancing projected to plunge in 2014 as rates rise

Is this the end of bargain mortgage rates?
Home lending will fall by a third next year as interest rates rise, a mortgage industry group says in a new forecast.
The Mortgage Bankers Assn. said Tuesday that it expects to see $1.19 trillion in new mortgages written during 2014, down 32% from $1.75 trillion this year.
Jay Brinkmann, the group’s chief economist, said all-cash home purchases by bargain-hunting investors – a huge driver of home sales the past few years – are expected to taper off next year.
He also expects mortgage rates to rise above 5% in 2014 and to increase further to 5.3% by the end of 2015.
As we’ve reported in prior posts, now is the time to get a mortgage…new or refinance. Contact your local mortgage broker and discuss your goals and current situation to find the best solution for you.

Levi stadium will open to soccer



Send this story to a friend


Oct 31, 2013, 10:51am PDT Updated: Oct 31, 2013, 1:36pm PDT

San Jose Earthquakes President on why 49ers Levi's Stadium will open with soccer


courtesy photo
The San Francisco 49ers have set an opening date for their $1.3 billion Levi's Stadium in Santa Clara, thanks to a new partnership with Major League Soccer's San Jose Earthquakes.
Economic Development Reporter- Silicon Valley Business Journal
Email  | Twitter  | LinkedIn  | Google+
After years in the making, the San Francisco 49ers have set an official opening date for the new $1.3 billion Levi's Stadium in Santa Clara.
But hold your horses, football fans.
Major League Soccer team the San Jose Earthquakes will actually play the opening game at the stadium on Aug. 2, 2014, according to a news release Thursday morning. The game is part of a partnership between the soccer team and the Santa Clara Stadium Authority — the quasi-public body that loaned the 49ers $850 million for the stadium and technically owns the venue.
The Earthquakes will take on Seattle Sounders FC for the inaugural game at Levi's Stadium. News of the 49ers partnership also comes after the Earthquakes' own privately financed San Jose stadium hit a construction delay that pushed their opening from 2014 to 2015.
Earthquakes President Dave Kaval told me he has been in close contact with 49ers COO Paraag Marathe, a friend and former business school classmate at Stanford, as both sports executives work on their stadium projects.
The game against Seattle was selected because of the potential to draw both 49ers and Earthquakes fans, since each team has a heated rivalry with teams from the city, Kaval said. He declined to detail any revenue-sharing agreements between the organizations.
Kaval hopes the game will build on his team's increasing momentum winning new fans, which he said is already demonstrated by increasing merchandise and ticket sales. If all goes well, he said the partnership could continue with more soccer at Levi's Stadium.
"It's certainly a possibility," Kaval said, floating the idea of international exhibition games against European soccer clubs or a showdown with the Mexican national team.
  • Page 1
  • 2
|View All
Lauren Hepler covers economic development, sports, and hospitality for the Silicon Valley Business Journal. She can be reached at 408.299.1820

Applied materials Turkey trot


trot
Save That Costume, Turkey Trotters!
Don't worry Halloween fans, you can keep that costume around a little longer! Virgin America and the Mercury News are offering prizes of air-fare and San Francisco 49ers tickets to Silicon Valley Turkey Trot participants with the best costumes!

The Annual Silicon Valley Turkey Trot takes place on Thanksgiving morning and benefits four local non-profits, including Housing Trust Silicon Valley. To join the fun, register to run or walk your choice of a 5 or 10k, and click "yes" when asked if you would like to participate in the Costume Contest sponsored by Virgin America and Mercury News!
 
Housing Trust Silicon Valley

95. South Market St., Suite 610
San Jose, CA 95113
(408) 436-3450

 

Housing Trust Silicon Valley | 95 S. Market Street, Suite 610 | San Jose | CA | 95113

 

Mike Dooley of TUT.com newsletter


 


Like us on Facebook

Follow us on Twitter

View our videos on YouTube

Find us on Pinterest


   
Jambo alan!
 
I want to start keeping you informed of all things TUT in the briefest and friendliest of ways, so to get this started: last month in San Miguel de Allende, my wife and I finally had our wedding!! Check out my Facebook page for some fun pics! Plus, we're expecting the first child for each of us in April - a girl!!

Besos, Mike
 
 
 
This Month's GIVEAWAY  

Follow me on Instagram and you could win a free Samsung Chromebook! Drawing to be held mid-November.
 
 
 
 
They're HERE!

It's here!!! Rare, limited quantities available, and just in time for gift giving! And for a limited time, it's $2 OFF! When the 1st printing sells out, they'll be gone. If interested, please act now.
 
  


 
 
 
 
Playing the Matrix Online Event!   

November 6th - 20th: Hay House and I will reach into homes the world over with a LIVE online edition of my Playing the Matrix!
 


   
 
 
 
African Safari & School Building - Note to Self!

"TUT and I have sponsored a village in Africa and we're building a school! In 2015 we're going to say hello to those we've helped and go on a once-in-a-lifetime safari!"

CLICK HERE!
 
 
Infinite Possibilities
Train the Trainer in London

Let's talk like the British! Our training program is going international in 2014, first in the UK, January 16-19, and later in Australia (date to be announced in 2014)!
 
 
Wonders of the World (WOW) Tour in Peru - Machu Picchu 
  
This APRIL, travel with Mike, Andy, and other like-minded adventurers on TUT's 3rd visit to one of the world's most stunning ancient civilizations.   

CLICK HERE! 


 
 
Upcoming Events  
 
Infinite Possibilities Training
Boston, MA; November 14-17, 2013
London, UK; January 16-19, 2014
San Diego, CA; March TBA 2014
Sydney, Australia; TBA 2014
LIVE Online; November 6-20, 2013
London, UK; January 11, 2014
San Diego, CA; March TBA 2014
Machu Picchu, Peru; Mar 29-Apr 6, 2014 FALL 2014; Somewhere Exciting TBA!
 
 
Update Your TUT Profile 
 
Is your profile up-to-date? Do we have your latest goals and aspirations? Do we know where you live? Check it out!

CLICK HERE!
 
 
YOU ARE ADORED! 
     
 
 
 Like us on Facebook  Follow us on Twitter  View our videos on YouTube  Find us on Pinterest     
 
TUT     Shop     Inspiration     Education     Adventure     Humanity     Forums     FAQ


 

Tut's Adventurers Club | 8240 Exchange Dr, Cloud 4 | Orlando | FL | 32809