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 »
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HUD, Justice Department Bring Pressure to Contrary Attorneys General
Some Lenders May Avoid Robo-Signer Deal Penalties
Thanks to federal agencies “cutting in” on deals with lenders to settle foreclosure problems and try to resolve the lack of confidence instilled in consumers thanks to last fall’s robo-signing fiasco, some lenders may avoid the $20 billion in penalties for faulty foreclosures proposed by the investigative team of attorneys general several weeks ago. According to a report from Bloomberg, Read full article »
New York City Extends Compliance Deadline for Energy Benchmark Laws
On May 1, 2011, local law 84 in New York City requires that all residential and commercial buildings with 50,000 or more square feet benchmark their energy and water use. However, penalties for failure to comply will not be assessed until “at least August 1,” announced the city’s Office of Long-Term Planning and Sustainability today. The Urban Green Council, which Read full article »
Synovus, Comerica Brace for Commercial Real Estate Loan Bust – Bloomberg
Synovus, Comerica Brace for Commercial Real Estate Loan Bust Bloomberg - 22 hours ago Moody’s Investors Service said yesterday it’s considering a downgrade of Synovus because of commercial real estate losses. Borrowers have fallen behind on ... |
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Madoff’s ‘Street-Smart’ Aide DiPascali Was Investors’ Go-To Guy – Bloomberg
Madoff’s ‘Street-Smart’ Aide DiPascali Was Investors’ Go-To Guy Bloomberg - 17 hours ago Boyer Palmer, a retired real estate developer from a suburb of Minneapolis, Minnesota, said he spoke often with DiPascali after opening an account with ... |
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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.
