Marcy Kaptur (D-OH) has submitted a resolution to the House Financial Services Committee calling for a temporary foreclosure moratorium due to the “precarious and unstable state” of the housing market. She cited the high volume of underwater homes in the country as reason for the moratorium, saying that “many economists today believe that to avoid relapsing into another devastating financial Read full article »
Tag archives for foreclosure freeze
Ohio Representative Calls for Temporary Foreclosure Moratorium
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, Financial Services Committee, Foreclosure, foreclosure freeze, foreclosure moratorium, foreclosure solution, Foreclosures, hardest hit fund, hardest hit states, House Financial Services Committee, Loan Modification, Marcy Kaptur, Mortgage, Mortgages, ohio democrat, ohio representative, president obama, Unemployment
South Carolina Chief Justice Stops All Pending Foreclosures
South Carolina chief justice Jean Toal placed all pending foreclosures in the state on hold Tuesday so that homeowners could try to “mitigate their losses and perhaps modify their loans.” Toal made a similar move last year in order to insure that homeowners could take advantage of new federal assistance programs. Toal credited her decision to reports from other judges Read full article »
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Major Lenders Protest New Jersey’s Threatened Foreclosure Freeze
Six major lenders are disputing a New Jersey chief justice’s proposition that their foreclosures be suspended indefinitely in his state, saying that they have addressed “questionable legal practices” and arguing that such a freeze might even be unconstitutional under the New Jersey constitution. The six lenders – Ally Financial, Bank of America, JP Morgan Chase, Wells Fargo, CitiGroup and One Read full article »
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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.