Tag archives for federal housing agency

HUD Alleges Improper Short Sale Documentation by CitiMortgage

In a recent report the Office of the Inspector General (OIG) at the department of Housing and Urban Development (HUD) accuses Citimortgage Inc. has violated the Federal Housing Administration (FHA)’s Preforeclosure Sale Program (PSP) by “failing to properly determine that borrowers were eligible to participate in the program”. CitiMortgage’s written response states simply that the lender “respectfully disagrees.” OIG is Read full article »

HUD Speaks Out in Defense of HAMP, Foreclosure Prevention

Over the past few weeks Republicans in Congress have led efforts to eliminate four foreclosure alternative and prevention plans, saying that they are doing more harm than good. Many experts agree with them, since programs like HAMP have dramatically underperformed while still effectively using millions or even billions of taxpayer money. The Department of Housing and Urban Development, however, believes Read full article »

The Condo Lending Conundrum: Blackballed Buildings

Whether you are a real estate investor or just a buyer looking for a great deal on a condo, the market in many areas of the country for condos has some of the best deals in years thanks to low interest rates and the best home affordability levels in decade. However, even if you have fantastic credit and a huge Read full article »

HAMP Survives First Round of Cuts, Two Other Programs Do Not

Republicans proposed cutting four foreclosure relief programs in their new budget (read this coverage here). After all was said and done, two programs ultimately got the axe (or at least are up for cutting so far). The FHA Refinance Program, which enabled underwater homeowners to refinance into a new FHA-insured mortgage as long as the lender wrote off at least Read full article »

New Premium Structure for FHA-Insured Loans Announced

In the future, even with excellent credit it’s going to cost you more to get a mortgage – at least if you are looking for the prime terms provided by many FHA loans. Yesterday the FHA announced that it will increase annual mortgage insurance premiums by 0.25 percentage points on 30- and 15-year loans. Upfront premiums will hold steady at 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.