Tag archives for Affidavits

Wells Fargo Identifies Foreclosure Problems Only Out of an “Abundance of Caution”

Wells Fargo & Company is not as far above the ForeclosureGate fray as the lender would have you believe. While the bank has no intention of suspending foreclosures and remains adamant that it has “designed an appropriate process for the generation of foreclosure affidavits,” nevertheless, the lender will be submitting 55,000 supplemental affidavits on currently pending foreclosures and request extensions Read full article »

Old Republic National Title Announces It Will No Longer Insure Chase, GMAC/Ally

Yesterday, Old Republic National Title, one of the biggest title insurance companies in the country, announced that it will no longer insure titles for two of the United States’ biggest lenders, JP Morgan Chase and GMAC/Ally. Both lenders have recently placed moratoria on their foreclosures, preforeclosures and some REO property sales as they investigate whether affidavits of foreclosure that were Read full article »

Bank of America Suspends Foreclosures in 23 States

The largest bank in the country has halted forecloses in 23 states following the discovery and disclosure of the notorious “robo-signers” infiltration of its ranks. Bank of America joins JP Morgan Chase and GMAC/Ally in the foreclosure freeze thanks to evidence of “rubber-stamping” foreclosure approvals without appropriate verification of validity. BofA has not, at this time, disclosed how many foreclosures Read full article »

GMAC Robo-Signer in Attorneys General Sights Across the Country

The attorney general of Connecticut has recently demanded that GMAC Mortgage/Ally Financial Inc. freeze all foreclosures in the state pending an investigation into defective foreclosure documents. Calling GMAC a “foreclosure steamroller,” Connecticut Attorney General Richard Blumenthal announced yesterday that all foreclosure actions on the part of GMAC would be halted until “the bank’s apparent failure to follow basic legal procedure” Read full article »

Rumor Mill: Is GMAC Stalling All Foreclosures?

Earlier this week, we reported on the GMAC/Ally “Robo-signer” who allegedly signed off on tens of thousands of inappropriate and even illegal foreclosures. In Connecticut, the state attorney general has already demanded that the lender freeze all foreclosures in the state pending his investigation, and similar moves in other states have sent rumors spiraling across the real estate investing market 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.