BREAKING NEWS - Fannie Mae and Freddie Mac are "voluntarily" delisting themselves from the New York Stock Exchange... the public explanation is that this action is consistent with preserving the value of the companies since they are in conservatorship (essentially, bankruptcy). But the reality is that both stocks are so worthless - hovering at or below the $1 per share Read full article »
Tag archives for Bankruptcy
Fannie and Freddie being Delisted From The New York Stock Exchange
category: Real Estate News
It’s Official: The U.S. Government Takes Control of Fannie & Freddie
Before noon on Sunday, September 7, 2008, Henry Paulson (Secretary of the United States Treasury) and James Lockhart (head of Federal Housing Finance Agency) announced that Fannie Mae and Freddie Mac have been taken over by the United States Government and will be placed in a "conservatorship". Additionally, the U.S. government is authorized to invest up to $100 BILLION in Read full article »
category: Real Estate News
tags: Bankruptcy, Consequences, Conservator, Conservatorship, Control, Direct Control, Economy, Fannie Freddie, Fannie Mae, Fannie Mae And Freddie Mac, Freddie Mac, Henry Paulson, Housing Finance Agency, James Lockhart, Net Worth, Oversight, Real Estate Market, Secretary Of The United States, United States Government, United States Treasury
Why Fannie Mae & Freddie Mac Are Failing
Fannie Mae and Freddie Mac, the two major government-sponsored mortgage lenders, are popularly held to be incapable of failure due to an implicit backing by the federal government. "The government backs them," so the thinking goes, "so they can't fail." That would be true if the government was economically all-powerful. But only one thing is economically omnipotent: the Read full article »
category: Real Estate News
Fannie Mae Updates Bankruptcy, Foreclosure & Other Requirements – What Does It Mean?
Fannie Mae, the quasi-government corporation that is the largest buyer of mortgages in the country, recently announced some new lending policies that at first glance appear to be a mix of wisdom and absolute insanity. I'm still working to make sense of it, but in the mean time, here's the text of the update memo: ------ Announcement 08-16 June 25, 2008 Amends these Read full article »
category: Main Content
tags: 12 Months, Absolute Insanity, Bankruptcy, Borrowers, Credit History, Desktop Underwriter, Effective Dates, Fannie Mae, First Glance, Foreclosure, Foreclosure Sales, Government Corporation, Investment Property, Mean Time, Mortgage Eligibility, Mortgage Loans, Payment History, preforeclosure, Principal Residence, Value Representation, Warranty Requirements
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.