Tag archives for Bank of america settlement

Cold, Hard Numbers: 210,000

210,000: The number of alleged victims who may be eligible for a payout from Bank of America’s $335 million fair-lending settlement with the Justice Department. Although BofA has settled with the JD for Countrywide’s alleged steering of borrowers to more costly mortgages that they could not afford, borrower advocates warn that “It’s going to be really difficult to find those Read full article »

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 »

Residential Mortgage-Backed Securities to Benefit from BofA Settlement

According to a report from Fitch Ratings, the recent settlement that Bank of America has reached with investors over mortgage repurchase and settlement claims is likely to “positively affect the ratings of approximately 10 percent of Fitch-rated U.S. residential mortgage-backed securities (RMBS) in the affected Countrywide trusts”. Last Wednesday BofA agreed to pay $8.5 billion to institutional investors to settle 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 »

Congresswoman Very Concerned About President’s Approach to Foreclosure Fraud

While president Obama diligently works to hammer out a settlement with major lenders that could force big banks to pay out millions or even billions of dollars in fines, principal reductions on loans and civil penalties, one congresswoman is not only not satisfied, she’s concerned that the president is failing homeowners across the country. Congresswoman Maxine Waters (D-CA) issued a 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.