After Michael Blomquist, a San Jose real estate agent, shut down his offices in January 2004 because he was unwilling to participate in “felony mortgage fraud,” he devoted the majority of his time and resources to expose “a criminal conspiracy to turn the housing market into a giant Ponzi scheme.” Now, at least he gets to say “I told you Read full article »
Tag archives for Borrowers
San Jose Real Estate Agent Closes Offices in 2004, Now Saying “I Told You So”
category: Real Estate News
tags: Blomquist, Borrowers, Conspiracy Theories, Criminal Conspiracy, Debacle, Dianne Feinstein, Federal Reserve, Housing Industry, Housing Market, Incomes, Killian, Miami Herald, Mortgage Fraud, Perfect Storm, Ponzi Scheme, Real Estate Agent, Regulators, San Jose Real Estate, San Jose Real Estate Agent, Vicious Attack
Jumbo Loan Limits to Expire in December
If Congress does not extend support of higher loan limits on Jumbo loans quickly, borrowers might have to face “the more stringent standards of private lenders in order to qualify for financing on pricier homes” in the coming months as lenders prepare for the shift downward in the outdated loan limits Fannie Mae, Freddie Mac and the FHA are currently Read full article »
category: Mortgage News, Real Estate News
Loan Recasting – “New” Strategy Hits the Loan Market, Lowers Monthly Payments without Appraisals, Refinancing, Other Fees
Refinanced your mortgage at a new, historically low rate, but still feel like your payments are too high? If so, then a “new” strategy called “recasting” or “re-amortizing” may be the next step for you. Although it has been around forever in theory, only recently has this tactic started to take hold thanks to tough refinancing and credit requirements. The Read full article »
Fed Says there is No One-Size-Fits-All Short Term Remedy for the Housing Crisis
At a recent housing crisis meeting in Washington, D.C., Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, said something that investors have been saying for literally years now and that the federal government certainly did not want to hear: “no one-size-fits-all short term remedies would work.” Pianalto went on to say that the nation’s housing market collapse Read full article »
category: Real Estate News
tags: Borrowers, Community Organizations, Community Reinvestment Act, Destructive Cycle, Facets, Federal Government, Federal Reserve, Federal Reserve Bank, Federal Reserve Bank Of Cleveland, Financial Institutions, Foreclosures, Housing Market, Market Collapse, Mortgage Delinquencies, Mortgage Foreclosures, Neighborhood Stabilization, Oversupply, Resale Values, Sandra Pianalto, Stabilization Program, Term Remedy
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.