In a 256 to 171 vote yesterday, the U.S. House of Representatives passed the FHA Refinance Program Termination Act (HR 830). Ultimately, one Republican voted against the bill and 18 Democrats voted for it, with the vote otherwise split along party lines with Republicans supporting and Democrats against the move. While the bill did make it through the house, most Read full article »
Tag archives for Fha Insurance
House Nixes FHA Short Refi Program
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, emergency homeowners relief program, federal housing adminstration, Fha, Fha Insurance, fha insured loan, Fha Loan, Fha Mortgage, fha refinance progra, fha refinance program termination act, fha short refi program, Foreclosure, Foreclosure Help, Foreclosures, Hamp, Home Affordable Modification Program, homeowner help, House Of Representatives, house of representatives hamp, house of representatives nsp, hr 830, m, neighborhood stabilization program, Nsp, obama emergency homeowners relief program, obama fha refi, obama hamp, obama nsp, obama veto, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, real estate policy, real estate politics, senate fha short refi program, senate hamp, senate nsp
HUD Facing $11 Million in Losses Thanks to Non-Compliant FHA Loans
In a recent review of more than 250 loans from 15 lenders, HUD’s Office of the Inspector General (OIG) determined that 49 percent of those loans were non-compliant with FHA guidelines and were likely to cost the FHA insurance fund $11 million or more. OIG recommended that HUD bring suit against each lender who violated lending regulations by misstating borrower Read full article »
tags: Bad Loans, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, federal housing association, Fha, Fha Guidelines, Fha Insurance, Fha Loans, FHA losses, fha watchdog, Housing And Urban Development, Hud, hud insurance, hud loans, HUD losses, HUD watchdog, hug oig, lender watchdog, lending news, lending trends, Mortgage, Mortgage Insurance, Mortgage News, mortgage trends, mortgage watchdog, Mortgages, noncompliant loans, office of the inspector general, oig, Real Estate, real estate education, Real Estate Investing, real estate investing education, Real Estate Investing News, Real Estate Investing Tips, Real Estate News, real estate tips, watchdog group
House Committee Approves FHA Reform, Overlooks Changes to Minimum Down Payment
On Tuesday, April 27, 2010, the House Financial Services Committee approved legislation that the lawmakers say will keep the FHA viable and enable it to continue insuring mortgage loans. The FHA’s continued viability came into question after rising defaults caused the federal agency’s reserves to fall below 2 percent, the minimum amount required by law. However, the new legislation will enable Read full article »
category: Real Estate News
tags: Borrowers, Deputy Assistant Secretary, Economic Climate, Fannie Mae, Fannie Mae And Freddie Mac, Fha Insurance, Fha Loans, Financial Services Committee, Freddie Mac, Furor, House Committee, House Financial Services Committee, Mortgage Fha, Mortgage Loans, New Legislation, Noncompliance, Regulatory Affairs, Reporting Systems, Risk Management, Viability
Summary of the “Housing And Economic Recovery Act of 2008″ Part 2
As provided by the U.S. Senate. Also see Part 1 of Summary of the "Housing and Economic Recovery Act of 2008" B. Summary of the “HOPE for Homeowners Act of 2008" The “HOPE for Homeowners Act of 2008" creates a new, temporary, voluntary program within FHA to back FHA-insured mortgages to distressed borrowers. The new mortgages offered by FHA-approved lenders Read full article »
category: Uncategorized
tags: Bailout, Credit Markets, Distressed Loans, Economic Recovery Act, Federal Reserve Chairman, Federal Reserve Chairman Bernanke, Fha Approved Lenders, Fha Borrowers, Fha Insurance, Financial Institutions, Government Insurance, Hoard, Insured Mortgages, Owner Occupants, Program Oversight, Subprime Mortgages, U S Senate, Voluntary Participation, Voluntary Program, Windfall
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.