If you live in New York, Nevada, Massachusetts or Delaware, then you can rest assured that your attorney general is pretty steamed about the robo-signer crisis. So steamed, in fact, that they are doing everything possible to prevent the current proposed settlement with the nation’s biggest lenders from happening. A lot of people support this reluctance to cave in and, Read full article »
Tag archives for attorney general probe
HUD, Justice Department Bring Pressure to Contrary Attorneys General
House Republicans Concerned About Elizabeth Warren’s Role in Mortgage-Servicing Negotiations
U.S. House Republicans have drafted a letter requesting copies of “any and all” communications between Elizabeth Warren and any state attorneys general since September 2010. The group is concerned that Warren, who is the White House adviser setting up the Consumer Financial Protection Bureau, has gone “far beyond the mere offering of advice” and that she may be unduly influencing Read full article »
Justice Department Extends Deadline for Bank Settlement
Banks required to submit a plan of action for handling loan modifications and foreclosures are going to get an extension on crafting that plan, thanks to the federal Justice Department. Mortgage servicers were supposed to submit their plans for dealing with contacting struggling borrowers, handling loan modifications in good faith and adjusting other problematic aspects of the foreclosure process yesterday. Read full article »
Attorney General Foreclosure Probe Closer to Settlement
Iowa attorney general Tom Miller has announced that the 50-state foreclosure probe begun in October as a response to the robo-signer fiasco is “closer” to a settlement and that state and federal officials plan to monitor banks to ensure that they “keep their promises”. Although Miller has not disclosed the terms of the proposed agreement, he said via phone interview Read full article »
Bank of America Faces Accusations of Divide and Conquer Strategy on Foreclosure Investigation Settlement
Bank of America has faced a great deal of criticism and scrutiny in recent months for issues ranging from robo-signers to government bailouts to plain old rotten customer service. Now Iowa assistant attorney general Patrick Madigan is reported to be adding another serious accusation to the long, long list of complaints against the lender: a divide and conquer strategy against 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.
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.
