It looks like the unofficial moratorium on foreclosure may be over. 33 percent more U.S. homes received an initial default notice in August over July – the biggest monthly gain in four years. While an initial notice does not guarantee a foreclosure, the spike does seem to indicate that lenders are done waiting for resolution on the robo-signer crisis and Read full article »
Tag archives for foreclosure moratorium
August Posts 33 Percent Spike in Foreclosures
tags: BEREL, Bryan Ellis Real Estate Letter, carole vansickle, Citibank, Draft, Foreclosure, foreclosure ban, Foreclosure Fraud, foreclosure moratorium, Foreclosures, Housing Market, housing market news, Housing Recovery, josh levin, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate Market, real estate market news, real etsate news, Realtytrac, Rick Sharga, Robo-signer
Foreclosures Get Green Light in New Jersey
The New Jersey superior court has cleared all lenders in the state to move forward with foreclosures. The last hurdle for GMAC and Ally Financial was lifted yesterday by Judge Mary Jacobson, who stated that the lenders have demonstrated “reliability of…processes” and are “permitted to resume prosecution of uncontested foreclosure proceedings”. Other lenders whose practices were in question, such as Read full article »
tags: Ally Financial, Bank Of America, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, Foreclosure, foreclosure ban, foreclosure moratorium, Foreclosures, Gmac, Housing Market, housing market news, mary jacobson, new jersey foreclosure, onewest, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, real estate. real estate market, richard williams, Wells Fargo
New Jersey Braces for Foreclosure Onslaught while Christie Faces Criticism for Slow Action on Foreclosure Rescue Fraud Bill
Last December, state supreme court justice Stuart Rabner called a halt to foreclosures by some of the biggest banks in the country in the state of New Jersey, demanding that Bank of America, Wells Fargo, JPMorgan Chase and other major lenders cease and desist all foreclosures in the state until they had proven that they had dealt with potential consumer Read full article »
tags: Bank Of America, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, chris christie, Draft, fargo, Foreclosure Fraud, foreclosure moratorium, foreclosure rescue, foreclosure rescue fraud, foreclosure rescue fraud prevention act, Foreclosures, Jpmorgan Chase, Loan Modification, New Jersey, new jersey citizen action, new jersey foreclosure, new jersey foreclosure moratorium, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, Robo Signers, stuart rabner, wells
Ohio Representative Calls for Temporary Foreclosure Moratorium
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 »
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
Wells Fargo Shareholders Meeting Ends in Arrests
Angry homeowners and community advocates stormed the Wells Fargo shareholders meeting last week to demand that the lender declare a moratorium on the foreclosure process. When Chairman and CEO John G. Stumpf refused to do so, protesters refused to leave and were eventually arrested. “I get the fact that families are hurting,” said Stumpf, “but moratoriums only put off the Read full article »
tags: bank bailout, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, Draft, Foreclosure, foreclosure assistance, foreclosure freeeze, foreclosure moratorium, Foreclosures, john stumpf, lender, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, Stop Foreclosure, taxpayer bailout, Wells Fargo, wells fargo annual meeting, wells fargo ceo, Wells Fargo foreclosures, wells fargo shareholders
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.