There could be some good news on the horizon for commercial property owners hanging on desperately to “extend and pretend” loans that they fear could be called in at any minute: Fitch Ratings is predicting that nearly 800 fewer CMBS loans will come due in 2012, meaning that the loans that are coming due will be easier to refinance. These Read full article »
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Goldman Sachs Appears to Be Betting on a Hotel Sector Recovery
Earlier this week Goldman Sachs Group did something a little unusual in today’s commercial real estate market – at least in the resort sector. The group paid 93 cents on the dollar for a $94 million loan tied to 105 hotels originally purchased in 2006 at the height of the real estate boom. The move has many analysts saying that Read full article »
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SEC Investigation Indicates Concerns about Extend and Pretend
While the country’s lenders struggle to stay afloat, one of the main methods for keeping books in the black for banks with heavy commercial real estate lending portfolios is a common practice called “amend and extend” or “extend and pretend”. Basically, this strategy involves changing the terms of an existing loan in order to give the borrower more time to Read full article »
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“Amend and Extend” Could be Prolonging Commercial Real Estate Recovery
While the signs are mostly good for the 2011 commercial real estate market, the recovery is still less than “robust,” according to industry leader Deloitte LLP’s vice president Bob O’Brien. O’Brien believes that market uncertainty in the commercial sector is the “most significant issue,” and does not think that the industry can fully recover until “owners and operators, lenders, investors, 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.