Tag archives for Adjustable Rate Mortgage

Nevada Attorney Backing Out of Countrywide Settlement

In October 2008, Bank of America agreed to provide up to $8.4 billion in interest rate and principal reductions to Countrywide borrowers who financed their homes using subprime mortgages or adjustable-rate mortgages (ARMs). Nevada, along with other states, agreed to this settlement. Now Catherine Masto, Nevada’s attorney general, is requesting that Nevada be permitted to terminate its participation in the Read full article »

Adjustable Rate Loans on the Rebound

Although they got a pretty bad name following the real estate crash in 2008, adjustable rate loans are making a comeback for buyers who want super-low rates and feel that 5 percent is just too high for their needs. Historically, buyers who invest in properties using adjustable rate mortgages (ARMs) have tried to sell or refinance before the adjustable rate Read full article »

Freddie Mac Finds Fixed is the Preferred Route for Refis

Perhaps not all that surprisingly, Freddie Mac’s quarterly Product Transition Report shows that “refinancing borrowers overwhelmingly chose fixed rate loans”. The GSE reports that these savvy borrowers – 95% of all borrowers overall – selected fixed rates “regardless of whether their original loan was an adjustable rate mortgage (ARM) or fixed rate.” Given the pain that a lot of homeowners Read full article »

$23.7 Million for Colorado, 6 Other States, to Settle Wells Fargo Deceptive Lending Practices Allegations

John Suthers, Colorado’s attorney general, has announced that Colorado, along with seven other states, will get $23.7 million from Wells Fargo to put to rest allegations of “deceptive advertising and problematic lending practices of Wachovia and World Savings”. The allegations stem from the “Pick-a-Pay” loan program that offered an adjustable-rate mortgage (ARM) as part of the package. Colorado will receive 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.