Archives for Real Estate Scams

Former Fannie Mae and Freddie Mac Executives Face SEC Fraud Charges

The Securities and Exchange Commission (SEC) filed fraud charges against six former GSE executives last Friday. Saying that “Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was” and accusing the executives of “material misstatements” that led to bad investment decisions on the part of “our country’s investors,” SEC director Read full article »

Nevada AG Takes on Notaries

Nevada attorney general Catherine Masto is not slowing down when it comes to tackling the parties she holds responsible for the housing crisis in her state. Just weeks after filing charges against title officers employed by Lender Processing Services (LPS), Masto has added three notaries to the suit for notarizing the signature of a person not in their presence, resulting Read full article »

NAR Over-Reports Home Sales for Four Years

According to the National Association of Realtors (NAR), their data on home sales has been skewed upward of reality since 2007. Thanks to properties being listed multiple times and new home sales falling in with existing home sales, data may be off as much as 20 percent. “Sales were weaker than people thought,” said chagrined NAR spokesman Walter Malony. Data Read full article »

Massachusetts Official Reports 26K Instances of Mortgage Fraud

Saying that he “can’t look a constituent in the eye and tell them who owns their mortgage,” a troubled register of deeds in South Essex County, Massachusetts, reports that his department has found 26,000 fraudulent mortgage documents on record in his area of jurisdiction. John O’Brien accuses lenders of “filing fraudulent documents to take homes away from them” and Read full article »

Cold, Hard Numbers: 74

74: Percentage of GMAC Mortgage still owned by the federal government as a result of bailouts. GMAC announced earlier this week that it will stop doing business with third-party lenders in Massachusetts following the state attorney general’s announcement that she was filing a lawsuit against GMAC and other major lenders alleging that they “used fraudulent documents in foreclosure proceedings, foreclosed 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.