Not all lenders say they are worried about the impact of the government shutdown on FHA loans. In fact, several large lenders, including Bank of America, Citibank and Wells Fargo, have said that they will continue to process and close applications for FHA and VA mortgages in the event of a shutdown. JPMorgan Chase will also continue to close FHA Read full article »
Tag archives for Fha Mortgage
Small Lenders Wary of FHA Loans in Face of Looming Government Shut-Down
House Nixes FHA Short Refi Program
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 »
Major Lender Pushes for 30 Percent Down on Home Loans
Wells Fargo has a new hurdle for homeowners: a 30 percent down payment on a qualified residential mortgage (QRM). The FHA and the Department of Housing and Urban Affairs are working steadily to establish a firm set of new mortgage rules by the end of April, and Wells Fargo, along with other major lenders, are looking for minimum 20 percent Read full article »
Anti-Flipping Waiver Extended Through End of 2011
The FHA has announced that it will extend its “anti-flipping waiver” through December 31, 2011 in order to “accelerate the resale of foreclosed homes in neighborhoods overrun with abandoned properties and blight.” David Stevens, FHA commissioner, hopes that the continued waiver will help stabilize market conditions in areas that are currently teetering on the edge of another downward slide due Read full article »
How Stupid Can They Be? Government Offers Financing For Overleveraged Properties Through FHA
Underwater homeowners without FHA loans will have a new refinancing option starting in September of this year courtesy of that organization. The FHA is going to offer qualified borrowers who are underwater but current on their mortgages the opportunity to qualify for an FHA-insured mortgage – if the borrowers can convince their current lender to write off at least 10 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.
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.
