The Federal Housing Finance Agency has filed suits against 17 financial institutions for selling government-controlled GSEs Fannie Mae and Freddie Mac around $200 billion in mortgage-backed securities (MBS) that later went south. Word of the suit leaked early in the day last Friday, causing Bank of America, JPMorgan Chase and Goldman Sachs stocks to fall 8.3 percent, 4.6 percent and Read full article »
Tag archives for Deutsche Bank
Deutsche Bank CEO Warns That Financial Sector Prospects are Bleak
Josef Ackermann, CEO of Deutsche Bank, warned that growth potential in the European financial sector is “bound by a mounting debt burden of sovereign and private debtors” and that real estate and retail financing in Europe is likely to “remain subdued”. Deutsche Bank is attempting to combat this rising issue by taking over market shares, examples of which, said Ackermann, Read full article »
US Bank to Work with Milwaukee to Stabilize Housing
U.S. Bank has committed more than $16 million to revitalize Milwaukee housing, and the lender is not the first to do so. In Milwaukee, four banks have now committed to providing resources to “improve and stabilize housing and homeownership efforts in the city”. Bank of America, Deutsche Bank and Wells Fargo have also committed various amounts for a total of Read full article »
Deutsche Bank Drops Foreclosure Fraud Investigator’s Son from Foreclosure Lawsuit
After facing widespread criticism that it had only added Mark Cullen, son of high-profile foreclosure fraud investigator Lynn Szymoniak, to a foreclosure case as an act of retaliation, Deutsche Bank has filed a “Notice of Dropping Party” with the Florida courts dismissing claims against Cullen. Szymoniak originally stopped paying her mortgage after the lender raised her interest rate in Read full article »
New Growth on the Struggling Las Vegas Strip
As the only hotel to open on the Vegas strip in 2010, the Cosmopolitan has gotten plenty of spotlight – and pressure. The Cosmopolitan, which has changed hands, developers, management and names multiple times since its inception until it burgeoned into a $3.9 billion project owned by Deutsche Bank, a German lender, opened exactly a year after Vegas’ City Center, 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.
