Archives for Mortgage News

HAMP Success Tally Slowly Growing

It’s taken some time to get off the ground, but the Home Affordable Modification Program (HAMP) may finally be gaining some traction. According to a new report released yesterday by the U.S. Treasury Department, 910,000 homeowners have now received a permanent HAMP modification and 83 percent of eligible homeowners that signed on with HAMP since June 2010 have gotten permanent Read full article »

Western States Working Through Foreclosure Backlog Quicker than Eastern

Although the foreclosure pipeline is still jammed across the country, out west states are “digesting” their backlog more quickly than their eastern counterparts. In fact, in three of the hardest-hit states in the country, Arizona, California and Nevada, foreclosure rates dropped over the course of 2011. In New Jersey, Connecticut and New York, however, delinquencies and foreclosures rose as judicial Read full article »

Biggest Down Payments in the Country Found in New Jersey

According to LendingTree, the national average down payment on a home today is 12.29 percent. However, in New Jersey borrowers are putting down nearly 1.5 percent more than that, making down payments in New Jersey the highest in the country at 13.76 percent. The state is followed closely by Washington, D.C. with 13. 54 percent, New York with 13.51 percent, Read full article »

President Bypasses Congress, Appoints Director of the Consumer Protection Bureau

Last December, the Senate rejected President Obama’s choice for director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray. Not be deterred, however, the president simply waited until Congress was in a recess (although the Senate was actually in a pro forma session, just as when the payroll tax cut was extended) and appointed him anyway,  leading many to protest Read full article »

Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around

While most analysts are recommending minimizing Fannie Mae and Freddie Mac or even winding them down, the Federal Reserve says that the best way to rescue the United States housing market is to use the government-controlled GSEs in a larger capacity in the coming year to provide “cheaper mortgages to a broader pool of homeowners”. The recommendation comes as a Read full article »

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The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.