Tag archives for 1 Billion

Additional $3 Billion to be Made Available to Unemployed Homeowners

Unemployed homeowners will soon be able to access $3 billion in aid to help them make their mortgage. The administration will be providing $2 billion in funds to the Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets, and HUD will complement that with $1 billion more from the Emergency Homeowners Loan Program. Homeowners can qualify for assistance Read full article »

Financial Reform Legislation Includes Mortgage Aid for the Unemployed

While the main focus on financial reform has been on how the new rules and regulations will impact Wall Street and “Main Street” when it comes to how investors, bankers and borrowers work together, tucked into “Wall Street Reform” is a $1 billion “emergency homeowner’s relief fund” that can be distributed starting October 1 of this year. An additional $1 Read full article »

Merrill Lynch Lost $39.1 Billion In Six Quarters – Wall Street Journal


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Merrill Lynch Lost $39.1 Billion In Six Quarters
Wall Street Journal - 11 hours ago

The residential market, followed by the commercial real-estate market, and the high-yield market, he said. Additionally, trading could cause problems for ...
Dismal bank earnings presage more trouble ahead The Associated Press
Highlights and Lowlights of BofA’s Earnings Call Wall Street Journal Blogs
Firm still has at least $75 bln of exposure to CDOs, MBS ... MarketWatch
Hürriyet  - Wall Street Journal
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FBI and Justice Department Make Hundreds Of Mortgage Fraud Arrests

The FBI says that since March of this year it has arrested about 300 people in the real estate industry for mortgage fraud related to the subprime mortgage meltdown.  Apparently, dozens of those arrests have been in the past two days. The justification they're giving for this in the news is that "losses to homeowners and borrowers" total over $1 billion. (Baloney.  Read full article »

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.