Thanks to “adjustments” to Federal Housing Administration (FHA) requirements, loan servicers dealing with FHA loans must extend the forbearance period for unemployed homeowners to 12 months now. Furthermore, servicers who participate in the Making Home Affordable (MHA) program must extend minimum forbearance period to 12 months “wherever possible under regulator and investor guidelines.” HUD secretary Shaun Donovan explained and supported Read full article »
Tag archives for Forbearance
Lenders Required to Extend Forbearance to Unemployed
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, delinquent mortgage, Draft, Federal Housing Administration, Fha, Forbearance, Housing And Urban Development, Hud, Making Home Affordable, MHA, Mortgage Forbearance, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, shaun donovan, Unemployment, unemployment forbearance
Majority of Homeowners Opting Out of Loss Mitigation Entirely
While the news is full of climbing short sale rates and the “success” of the myriad federal programs in place to help homeowners deal with the housing crisis, a new report from the State Foreclosure Prevention Working Group (SFPWG), a group that compiles and analyzes information from state attorneys general and bank supervisors around the country, indicates that fully 60 Read full article »
category: Real Estate News
tags: Bank Supervisors, Delinquent Loans, Delinquent Mortgages, Forbearance, Foreclosure Prevention, Foreclosures, Hundreds Of Thousands, Loan Modification, Loss Mitigation, Lot, Mainstream, Point In Time, Principal, Real Estate, Recruiting, Six Months, State Attorneys, Success, Two Thirds, Working Group
Financial Reform Legislation Includes Mortgage Aid for the Unemployed
While the main focus on financial reform has been on how the new rules and regulations will impact Wall Street and “Main Street” when it comes to how investors, bankers and borrowers work together, tucked into “Wall Street Reform” is a $1 billion “emergency homeowner’s relief fund” that can be distributed starting October 1 of this year. An additional $1 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.