Tag archives for Home Affordable Modification Program

HAMP Success Tally Slowly Growing

It’s taken some time to get off the ground, but the Home Affordable Modification Program (HAMP) may finally be gaining some traction. According to a new report released yesterday by the U.S. Treasury Department, 910,000 homeowners have now received a permanent HAMP modification and 83 percent of eligible homeowners that signed on with HAMP since June 2010 have gotten permanent Read full article »

TARP Money for Homeowners Likely to Go Toward National Debt Instead

Around $30 billion allocated in the Troubled Asset Relief Program (TARP) to help struggling homeowners will likely be paid on the national debt instead, reports ProPublica, a self-proclaimed “independent, non-profit newsroom” dedicated to “exploring the abuses of power and betrayals of the public trust by government, business and other institutions”. The report indicates that while about $2 billion of that Read full article »

GSE Borrowers Up for Increased Forbearance

If 27 Democrats in the House of Representatives get their way, unemployed Fannie Mae and Freddie Mac borrowers will receive the same year-long forbearance period on their mortgages that FHA borrowers receive. The group has written a letter to the president urging him to make the change in order to “help those with job losses save their homes while they Read full article »

Bank of America Must Face HAMP Lawsuit

Bank of America had hoped to avoid facing tens of thousands of irate homeowners claiming that they were unreasonably denied mortgage aid through the Home Affordable Modification Program (HAMP) by the lender. However, a judge has denied the bank’s motion to dismiss the case and the bank will be asked to provide permanent loan modifications to those who are eligible Read full article »

Loan Modifications Slip in Early 2011

While the loan modification business has been rocky from the start, mortgage servicers have been completing more than 100,000 loan modifications a month since late 2009. Now, however, the streak seems to be coming to an end. In February 2011, mortgage servicers completed a total of 87,083 loan mods, 14 percent fewer than in January. However, “serious delinquencies” also declined 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.