Over the past two years, lenders have been turning down more and more mortgage applications. In 2009, 23.5 percent were turned down, and that number rose by 3.5 percent in 2010. And although everyone agrees that lenders cannot return to the “freewheeling” policies that originally inflated the housing bubble, many are concerned that now lending practices are actually interfering with Read full article »
Tag archives for Economists
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order to qualify for financing on pricier homes” in the coming months as lenders prepare for the shift downward in the outdated loan limits Fannie Mae, Freddie Mac and the FHA are currently Read full article »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
Geithner Blames Real Estate and Lending Markets for Lagging Economic Recovery
According to treasury secretary Timothy Geithner, the slow climb out of the current recession is still largely due to mistakes make in real estate and lending over four years ago. “You had this huge growth in leverage in the financial system and huge overinvestment in real estate in parts of the country…But more relevant for us now, they make the Read full article »
category: Editorial, Real Estate News
tags: Angles, Chamber Of Commerce, Commerce Conference, Commercial Real Estate, Economic Recovery, Economic Stagnation, Economists, Economy, Facets, Hispanic Chamber Of Commerce, Housing Market, Leverage, Oversupply, Private Investment, Real Estate Boom, Real Estate Market, Recession, Slow Climb, Treasury Secretary
Debt Collectors Sharpen Their Knives And Lick Their Chops After Fair, Isaac & Co. (FICO) Releases Latest Report
Note: This article is by credit expert Mike Payne. Read it carefully and be sure to check out Mike's free resources over at http://www.FixMyUglyCredit.com! FICO’s latest report stuns economists, stating 43.4 million people with 599 credit scores or worse! 43 MILLION! If this stat is not ugly enough for you, try this one: another 112 million possess what is termed “bad” credit. Bottom Read full article »
category: Personal Finance Tips
tags: Bad Credit, Bottom Line, Collection Tools, Collectors Knives, Credit Expert, Credit Scores, Debt Collection, Debt Collector, Debt Collectors, Debt Settlement, Economists, Fair Isaac, Fico, Free Resources, Lick, Mike Payne, Mortgage Lender, Payment History, Pound On, Sharpen Knives, Sneaky Trick, State Debt, Statutory Limits, Wrong Way
Nearly Half of HAMP Participants “Fall Out” of the Program
According to the U.S. Treasury’s July report on the federal government’s “premier housing program,” HAMP (Home Affordable Modification Program), nearly half of all participants have dropped out of the program since its inception. This means that about 625,300 homeowners who received modifications on their loans failed to make their new, lowered payments and have lost their homes to foreclosure or Read full article »
category: Real Estate News
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.