Mike Novak-Smith and Ted Boecker of RE/MAX Join Bruce Norris on the Real Estate Radio Show #431

Bruce Norris is joined again this week by Ted Boecker and Mike Novak-Smith. Ted is the owner and broker of RE/Max Results in Moreno Valley. He started the company in 1989, and he has been experienced at practicing law and being a general contractor. He has also operated different types of developments. Mike Novak-Smith is one of the leading REO agents in the entire country and the top 1% of all real estate agents nationwide. He is experienced in REO short sales, bankruptcies, asset management and negotiating. He specializes in REOs in Riverside and works with Ted’s brokerage. Bruce, Mike, and Ted discuss the difficulty today in getting loans, hedge funds, the decrease in loans handled by FHA, the need for a open market sale, the cut in full-time jobs, the initial pre-qual process, the decline in FHA loan limits, and much more on this week's Norris Group real estate radio show and podcast.

Play Now

John Burns Joins Bruce Norris on the Real Estate Radio Show #414

Bruce Norris is joined again this week by John Burns.  John is the CEO of John Burns real estate consulting firm, located in Irvine.  They are a national source of independent housing research, advice, and consulting.  Their mission is to help executives make informed housing industry decisions.  His firm provides builders, developers, banks, lenders, investors, and building product manufacturers with timely analysis they need in order to make smart decisions quickly and cost effectively.  Research is backed by detailed data as well as proprietary tools and experienced professionals around the country. Bruce and John discuss the market for this year and if it met their predictions, construction numbers in California, development costs, subdivision creation in Riverside County, FHA's reduction of loan balance and how it affects builders, unsold inventory versus sales, Fannie and Freddie's new 3% down loan program, single-family rental homes, and much, much more on this week's real estate radio show and podcast.




Play Now

Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #367

Bruce Norris is joined again this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. They do about $20 million in volume a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss FHA loan limits, FHA loans at the end of 2013, mortgage-backed securities, the hole in the marketplace right now for new construction,  price gains, conventional loans, and much more on this week's real estate radio show and podcast.

Play Now

Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #366

Bruce Norris is joined this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. He is in the Inland Empire, and they do about $20 million a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss the mortgage industry today compared to 2006, prices in the 80s and early 90s, the new QM rules, concerns over the new oversight,automated approvals by the FHA and GSEs, the 417 loan amount, the advantage of a conventional loan and its lower PMI factor, and much more on this week's real estate radio show and podcast.

Play Now

I Survived Real Estate 2013 Part 5 #357

On October 18, 2013, The Norris Group proudly presented I Survived Real Estate 2013. An expert line-up of industry experts joined Bruce Norris to discuss perplexing industry trends, head-scratching legislation, and the outlook for real estate in the coming year. Over $90,000 was raised to benefit Make a Wish and St. Jude Children’s Research Hospital. In this segment, Bruce continues his discussion with Debra Still and Mark Palim, covering topics such as the impact of rising interest rates on the housing recovery, the ridiculous interest rates we see today, slowdown in sales and appreciation in prices, the increase in ARMs, popular past products not coming back, the current cap on fees, the percentage of loans in 2013 that would not meet QM, the 3-point rule and the negative impact on small loan amounts, and much, much more on this week's real estate radio show and podcast.

Play Now

Doug Duncan Joins Bruce Norris on the Real Estate Radio Show #351

Bruce Norris is joined this week by Doug Duncan.  Doug is Fannie Mae’s Vice President and Chief Economist.  He is responsible for managing Fannie Mae’s strategy division, economics, and mortgage market analysis groups.  In this leadership role, Duncan provides all economic housing and mortgage market forecasts and analysis.  He also serves as the company’s thought leader and is a spokesman on economic and mortgage market issues. Bruce and Doug discuss the housing market today compared to a year ago, the decline in construction employment, organic growth in the market, population and demographics being the driving factors in the housing market, buyer mentality, the percentage of the market Fannie and Freddie have, shadow inventory, the upcoming event I Survived Real Estate 2013, and much more on this weeks real estate radio show and podcast.

Play Now

E.J. Burke, Vice Chairman of the Mortgage Bankers Association, Joins Bruce Norris on the Real Estate Radio Show #298

Bruce Norris is joined this week by E.J. Burke. E.J. is vice-chairman of the Mortgage Bankers Association as well as the executive vice president and group head of Key Bank Real Estate Capital and Corporate Banking Services. This is a division of Key Bank NA. Burke is one of five group heads in Key Corporate Banking Division with responsibilities for Key Bank’s real estate capital, Key’s treasury management services, international and foreign exchange services, custody services, and the financial institution’s client segment.
Bruce and E.J. discuss off-balance sheets and what this means, Dodd-Frank and the new rules that will come from this act, the process for securitizing a loan today compared to the past, the changes that may be coming to the real estate industry, loan policy in today's market, shadow inventory, and much more on this week's real estate radio show and podcast. 

In other news, the fifth annual I Survived Real Estate will be meeting on October 19 this year.  The Norris Group would like to thank their gold and platinum sponsors for helping to make this event possible.  E.J. Burke will be joining the panel at I Survived Real Estate 2012.   

Play Now

Robert England Joins Bruce Norris on the Real Estate Radio Show #257

This week Bruce is joined by Robert England, author and financial journalist. Bruce and Robert discuss his book Black Box Casino: How Wall Street’s Risky Shadow Banking Crashed Global Finance and how he came up with the title, Fannie Mae and Freddie Mac, the amount of political clout the political clubs had, the 1992 Federal Housing Enterprise Financial Safety and Soundness Act, mortgage-backed securities, and much more on this week's real estate radio show and podcast. 
Play Now

I Survived Real Estate 2010 part 5#197

This week, The Norris Group presents the third audio installment from the event I Survived Real Estate 2010. This award-winning event has raised over $170,000 since its inception three years ago thanks to the support of all the sponsors and individuals donors that participate. This year, the event focused on the state of REO and foreclosure from an unusual and exciting lineup of experienced experts from multiple industries. This episode starts with more conversation with Fannie Mae and Freddie Mac talking more about bulk buying opportunities. Later, Bruce brings up the entire panel to discuss more on the economy and the real estate market.

Play Now

I Survived Real Estate 2010 part 4 #196

This week, The Norris Group presents the third audio installment from the event I Survived Real Estate 2010. This award-winning event has raised over $170,000 since its inception three years ago thanks to the support of all the sponsors and individuals donors that participate. This year, the event focused on the state of REO and foreclosure from an unusual and exciting lineup of experienced experts from multiple industries. This episode goes into a little more on bulk buying with Fannie Mae and Freddie Mac.

Play Now

Peter Wayman Joins Bruce Norris on the Real Estate Radio Show #190

This week the Norris Group continues with radio interviews leading up to I Survived Real Estate 2010: The State of REO. On the radio show this week is Senior REO Sales Director for Freddie Mac, Peter Wayman. Peter and Bruce talk about Freddie Mac's internal REO strategies, loan modification, and opportunities for bulk buying with Freddie Mac.

Play Now

Frank Nothaft of Freddie Mac #20

Join Bruce and chief economist for Freddie Mac , Frank Nothaft as they discuss the current real estate market from the lending perspective.

Frank E. Nothaft was appointed to the position of chief economist in December 2001 and vice president in March 2004. In this position, Nothaft is responsible for primary and secondary mortgage market analysis and research, macroeconomic analysis and forecasting. Nothaft is also involved in the analysis of affordable lending activities and policy issues affecting the housing industry.
Prior to being named chief economist, Nothaft served as deputy chief economist for Freddie Mac from 1988, and as a senior economist from November 1986. Nothaft was an economist with the Board of Governors of the Federal Reserve System from 1983 until 1986, where he served in the mortgage and consumer finance section and as the assistant to Governor Henry C. Wallich.
A widely quoted expert on housing and economic issues, Nothaft makes frequent guest appearances in both local and national media outlets.
Nothaft holds a Ph.D. in economics from Columbia University and is a member of the American Real Estate and Urban Economics Association.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.

Listen to Frank Nothaft Part 2

Frank Nothaft of Freddie Mac #19

Join Bruce and chief economist for Freddie Mac , Frank Nothaft as they discuss the current real estate market from the lending perspective.

Frank E. Nothaft was appointed to the position of chief economist in December 2001 and vice president in March 2004. In this position, Nothaft is responsible for primary and secondary mortgage market analysis and research, macroeconomic analysis and forecasting. Nothaft is also involved in the analysis of affordable lending activities and policy issues affecting the housing industry.
Prior to being named chief economist, Nothaft served as deputy chief economist for Freddie Mac from 1988, and as a senior economist from November 1986. Nothaft was an economist with the Board of Governors of the Federal Reserve System from 1983 until 1986, where he served in the mortgage and consumer finance section and as the assistant to Governor Henry C. Wallich.
A widely quoted expert on housing and economic issues, Nothaft makes frequent guest appearances in both local and national media outlets.
Nothaft holds a Ph.D. in economics from Columbia University and is a member of the American Real Estate and Urban Economics Association.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.

Listen to Frank Nothaft