Most of you probably saw this coming, but that does not make it any less unpleasant. Rumors are swirling that on top of the $145 billion the two mortgage giants have already received, the entities will need another roughly $1 trillion to meet the demands of a “reasonable worst-case scenario for the companies” should the market continue to resolve slowly Read full article »
Archives for June, 2010
Trillion-Dollar Bailout of Fannie and Freddie?
category: Real Estate News
tags: 1930s, Bailout, Businessweek, Corporate Debt, Dangerous Environment, Entities, Fannie Freddie, Giants, Gold Standard, Gses, Housing Market, International Economy, International Relations, Leaps And Bounds, National Housing, Politicians, Trillion, U S Treasury, United States International, Worst Case Scenario
Government is Holding 46% of All REO Property Nationwide
According to Radar Logic, the federal government is currently holding about 46 percent of the entire body of REO properties in the country. This includes properties held by Fannie Mae, Freddie Mac, HUD and VA loans. The company also predicts that due to a glut of “non-performing” homes that are not yet in foreclosure but clearly headed that way, the Read full article »
category: Real Estate News
Detroit Real Estate Market on the Move…Maybe
Detroit’s rate of short sales has increased 171 percent in the past year, thanks to Michigan lenders working with homeowners to attempt to stem or even stall the tide of foreclosures hitting the already-depressed Michigan market. In southeastern Michigan, this could indicate that the real estate market is “on the move,” reported the Detroit News, but it remains unclear how Read full article »
category: Real Estate News
Texas Woman Catches Sneaky Debt Collector Red-Handed
Note: The article below comes from the one and only man in the entire world that I trust on the issue of credit repair: Mr. Mike Payne. If you or any of your customers/buyers/renters are in need of advice and strategy regarding credit repair, Mike is the guy to give it to you. Of course, like every other page on Read full article »
category: Personal Finance Tips
tags: Advi, Credit Accounts, Credit Application, Credit Reporting Agencies, Debt Buyer, Debt Collection, Debt Collector, Debt Collectors, Debtors, Delinquency, Equifax, Furnisher, Legal Time, Mike Payne, Odessa Tx, One And Only Man, Real Estate Investors, Sole Purpose, Texas Woman, Time Limits, Turning Up The Heat
Free and Clear Commercial Property – ’363 Sales’
In there a market for commercial property? It may be time for you to become a stalker... er... a "stalking horse". With so many companies facing bankruptcy, the courts appear to be increasingly open to a type of bankruptcy-specific asset sale known as a "363 sale" which receives its name from the section of the U.S. bankruptcy code that creates it. In Read full article »
category: Real Estate Tips
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.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
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.