If the current administration gets its way, some of the country’s largest banks could be forced to pay for billions of dollars in principal reductions on loans. The administration is citing “breakdowns in mortgage servicing” as the cause for the settlement, and some state attorneys general are also asking for civil fines and modifications for troubled borrowers. The administration believes Read full article »
Tag archives for bryan ellis carole vansickle
Residents Take “Nuisance” Owner to Court for a Win and a Sale
In San Diego, if enough of the neighbors think your house is a problem you could end up in court facing nuisance property charges and small-claims actions of as much as $7,500 per individual involved in the suit. That is just what happened to one property owner who now stands to settle a huge judgment and lose his property if Read full article »
Maryland County Charging for Foreclosure Maintenance
When a homeowner loses a property to foreclosure, most would expect that at least the loss would lead to the removal of a burden from their back. After all, when the bank takes back the property; one expects the property to become the bank’s responsibility. However, in one Maryland county, owners of foreclosed, abandoned properties could still be charged for Read full article »
ACLU Okay with Fighting Neighborhood Blight, but Commercial Areas are a Different Story
Michigan city Royal Oak can fight neighborhood blight all it wants by enforcing small code violations like those against broken windows and unkempt lawns, but leave the panhandlers out of it, says the ACLU (American Civil Liberties Union). The city had been trying to protect its downtown areas from their own property blight by enforcing an ordinance banning “peaceful panhandling 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.
