Not all lenders say they are worried about the impact of the government shutdown on FHA loans. In fact, several large lenders, including Bank of America, Citibank and Wells Fargo, have said that they will continue to process and close applications for FHA and VA mortgages in the event of a shutdown. JPMorgan Chase will also continue to close FHA Read full article »
Tag archives for Jp Morgan
Small Lenders Wary of FHA Loans in Face of Looming Government Shut-Down
Bank of America Suspends ALL Foreclosure Sales
BREAKING NEWS - Bank of America, the largest lender in the United States, has just announced that it is halting all foreclosure sales in all 50 states. It's currently investigating flaws in its foreclosure process. BOA announced foreclosure suspension in 23 states last week, as did JP Morgan. Today's announcement extends that suspension to the entire United States. This portends additional nation-wide Read full article »
Foreclosure Moratoria Could Create a Price Avalanche
As more states come to the conclusion that they need to place at least partial moratoria on foreclosures, preforeclosures and sales of foreclosed properties (REO) in an effort to prevent the “robo-signer” phenomenon from wreaking even more havoc on potentially undeserving homeowners, real estate experts fear that this well-intended move could create a “false stability” in the housing market that Read full article »
Real Estate Scam of the Day: Kentucky Homeowners Sue Over False Foreclosures
Citigroup, Inc. and Ally Financial, Inc. are facing a lawsuit from homeowners in Kentucky that may have been facing illegal foreclosures. The suit, which has been filed as a civil-racketeering class action on behalf of Kentucky homeowners facing foreclosures. If the homeowners win the suit, they could potentially save their homes from foreclosure. The lawsuit alleges that the two banks are Read full article »
Old Republic National Title Announces It Will No Longer Insure Chase, GMAC/Ally
Yesterday, Old Republic National Title, one of the biggest title insurance companies in the country, announced that it will no longer insure titles for two of the United States’ biggest lenders, JP Morgan Chase and GMAC/Ally. Both lenders have recently placed moratoria on their foreclosures, preforeclosures and some REO property sales as they investigate whether affidavits of foreclosure that were 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.
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.
