Tag archives for ForeclosureGate

Cold, Hard Numbers: 21.1

21.1: The percent increase in new foreclosures during Q3 2011. The spike was caused when banks and other lenders lifted the voluntary moratorium on foreclosures implemented in late 2010 in the wake of the robo-signing scandal. Read full article »

Deutsche Bank Drops Foreclosure Fraud Investigator’s Son from Foreclosure Lawsuit

After facing widespread criticism that it had only added Mark Cullen, son of high-profile foreclosure fraud investigator Lynn Szymoniak, to a foreclosure case as an act of retaliation, Deutsche Bank has filed a “Notice of Dropping Party” with the Florida courts dismissing claims against Cullen. Szymoniak originally stopped paying her mortgage after the lender raised her interest rate in Read full article »

Maine Judge Overturns Foreclosure, Calling Foreclosing Bank Papers “Inherently Untrustworthy”

It is common knowledge that in a court case, if a judge does not like your documentation you could be in trouble. Now, HSBC Mortgage Services, Inc., is finding out that a bad reputation can cost a lender the right to foreclose in some states. Calling supporting documentation filed by HSBC “inherently untrustworthy” and saying that the affidavits used in Read full article »

Robo-Signer Fallout: Foreclosure Homes May Not Be So Appealing

In Florida, the fallout from the robo-signer debacle last fall is still ongoing, and it is impacting one of the most important aspects of the real estate market today: foreclosures. In South Florida, foreclosure sales fell 11 percent in the first quarter of 2011 from the fourth quarter of 2010, and all indications point to buyers continuing to feel reluctant Read full article »

Wells Fargo Likely to Lose More than $1 Billion in Legal Battles Over Mortgage, Foreclosure Practices

Wells Fargo may not have held enough money in reserve to cover legal losses, it announced yesterday, saying it “may need more than $1 billion in additional funds to cover potential legal losses related to its mortgage and foreclosure practices”. The lender, which held itself largely above the fray last fall in during the robo-signer fiasco, has fallen hard as 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.

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.