Today’s News Synopsis:

According to the latest foreclosure report from CoreLogic, 36,000 foreclosures were completed in September.  NAHB’s Leading Maret Index Report showed the housing market is continuing to gain steam with 162 out of 340 metropolitan areas at or above normal levels.  Towd Point Master Funding is the winnder of Fannie Mae’s Reperforming Loan Sale.

In The News:

NAHB – “Housing Recovery Continues at Modest Pace” (11-7-16)

“Markets in 162 of the approximately 340 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2016, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released today.”

Bloomberg – “Toronto Million-Dollar Homes Pushing Demand to Nearby Cities” (11-8-16)

“Toronto’s hot housing market is driving residents to seek more affordable options outside Canada’s largest city, pushing demand for new properties to new highs in these outlying towns.”

TheStreet – “U.S. Real Estate Market Trends Downward, With Lower Incomes to Blame” (11-8-16)

“Call it a ‘reverse trifecta.’  Americans are making less money, are concerned about interest rate hikes and view home purchases as more expensive going into the last two months of 2016.”

Wall Street Journal – “Election Is Blamed for New York Real-Estate Broker’s Blahs” (11-8-16)

“Confidence among New York’s typically cheery real-estate brokers has slipped in the face of softening property markets and uncertainty about the presidential election.”

Fannie Mae – “Fannie Mae Announces the Winner of its Reperforming Loan Sale” (11-8-16)

“Fannie Mae (FNMA/OTC) today announced the winning bidder for its reperforming loan sale. The sale included approximately 3,500 loans totaling $789.2 million in unpaid principal balance (UPB), divided into two pools.”

CoreLogic – “CoreLogic Reports 36,000 Completed Foreclosures in September 2016” (11-8-16)

“CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its September 2016 National Foreclosure Report which shows the foreclosure inventory declined by 31.1 percent and completed foreclosures declined by 7.0 percent compared with September 2015.”

DS News – “Are Credit Standards for Mortgage Loans Finally Relaxing” (11-8-16)

“The October 2016 Senior Loan Officer Opinion Survey on Bank Lending Practices addressed where credit standards stand according to 90 banks across the U.S. and how this impacts the demand for mortgages among households over the past three months.”

Bloomberg – “Airbnb’s ‘Don’t Punish Us’ for Sofflaws Fails Court Test” (11-8-16)

“Airbnb Inc.’s claim that it’s just a conduit for user-generated content was rejected by a judge who said the company may not be able to duck a San Francisco law punishing it for collecting booking fees from hosts who fail to register their rentals with the city.”