Items Tagged with 'California housing'

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Need a mortgage in California? Realtors say you better earn this much money

CAR gives regional and state affordability break down
While it’s only a small improvement, California still managed to record an increase in home affordability. However, a look at different counties across the states shows that geographical location makes a difference. Here’s a break down of how much home shoppers need to make in order to own a home in the top counties.
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Airbnb agrees to let California conduct fair housing tests on hosts

Short-term rental site's users now subject to fair housing rules
California homeowners who rent out their properties on Airbnb could now potentially be the target of fair housing investigations, thanks to an agreement between the short-term rental website and the California Department of Fair Employment and Housing. Here are the details.
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Despite adverse conditions, California home-buying season off to a good start

Housing inventory drops to 2017 low
While low housing inventory and slow wage growth are par for the course in California, the state pushed past those roadblocks to record a strong start to the year. But strong housing demand, coupled with a shortage of available homes for sale, is still causing major problems for the state, as California Association of Realtors President Geoff McIntosh explains.
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Los Angeles struggles to retain workers due to high housing costs

Can’t compete with more affordable markets
Los Angeles may have year-round sunshine and great beaches, but that may not be enough to entice workers to accept jobs there. Businesses, instead, must develop special hiring packages in order to compete with more affordable housing markets. What would it take to get you to work in LA?
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United Shore to pay $1.4 million for allegedly overcharging California borrowers

CEO Mat Ishbia: We didn't benefit one penny and not one borrower was harmed
United Shore Financial Services, the parent company of United Wholesale Mortgage, will pay $1.4 million as part of a settlement with the California Department of Business Oversight, which accused the lender of overcharging “thousands” of borrowers for interest on their mortgages. But the company's CEO says that the fine is for a long-fixed problem and that the company didn't benefit at all from the alleged overcharging.
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Despite drop in pending home sales, California Realtors positive on spring buying season

Affordability and inventory shortages still major concern
Housing inventory shortages and affordability concerns dampened California’s strong start to the new year. But regardless of the dip, California Realtors are still positive about the upcoming spring home-buying season and expect improved market conditions in the near term.
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Spotlight on what new HUD budget will do to LA's homeless housing efforts

Future of section 8 housing in LA
The city of Los Angeles just started to get the ball rolling on its efforts to solve its homelessness crisis. However, due to President Donald Trump’s new budget proposal that would severely cut costs for the Department of Housing and Urban Development, the city’s homeless efforts might not go according to the original plan.
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California home sales start 2017 on a strong note

Median sales price drops below $500,000 for first time since March 2016
While winter usually means a decline in home sales, California just saw its first increase in home sales between December and January since 2012, a sign that the Golden State could be in for a strong housing year.
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California regulator reveals what Ocwen did wrong

Auditor found "hundreds" of violations of law
Ocwen Financial announced late last week that it successfully extricated itself from the mortgage servicing restrictions placed on it by the California Department of Business Oversight. The final settlement total included $198 million in debt forgiveness. So why was the settlement so big? Turns out that Ocwen’s operations weren’t exactly squeaky clean for the last few years.
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