Tag archives for Fdic

Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go

The retired chairman and CEO of Wells Fargo and the former chairman of the FDIC are making no more bones about it: the say that Fannie Mae and Freddie Mac caused the housing crisis and that the two now-federal entities have got to go. Richard M. Kovacevich, former CEO of Wells Fargo, and William M. Isaac, former FDIC chairman and Read full article »

FDIC Shuts Down Three More Lenders

Over the past weekend the Federal Deposit Insurance Corporation (FDIC) shut down three more lenders – two in Florida and one in Colorado. This brings 2011’s tally of failed banks to 58. Both Florida lenders were acquired by American Momentum Bank, while Bank Midwest used an FDIC-assisted transaction to acquire Colorado’s Bank of Choice. That transaction is projected to cost Read full article »

Sheila Bair Retires, Blames Real Estate for Financial Crisis

In her last statement as chairman of the Federal Deposit Insurance Corporation (FDIC), Sheila Bair emphasized the importance of keeping focus on real estate, crediting not only the financial crisis, but also the slow economic recovery to “the fact that so many residential and commercial properties are currently underwater”. She added that “signs of recovery remain elusive” and that she Read full article »

Banks Making Progress in Balance-Sheet Repair Process, but FDIC Chairman Warns It Can Only Go So Far

According to numbers released by the FDIC this week, lenders are seeing “considerable improvement” in loan quality and, as a result, are becoming increasingly confident that there will be fewer defaults. In fact, they are so confident that they have made loss provisions in the sum of $20.7 billion rather than $51.6 billion. The latter number is the sum set Read full article »

FDIC Calls Robo-Signer Probe Narrow

FDIC Chairman Sheila Bair says that it will probably be a long time before the true extent of the damage done by robo-signers within the lending and a foreclosure industry is actually known. Although Bair praised the federal regulators currently involved in investigating the issue of “deeply flawed servicing practices,” she called the overall effort “narrow” and warned that 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.

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.