Based on a second-quarter assessment of the 10 largest servicers participating in the Making Home Affordable Program, the U.S. Treasury Department plans to continue to withhold incentives from Bank of America and JPMorgan Chase. They two lenders have failed to show “substantial improvement” in borrower outreach, borrower evaluations and program reporting, said a Treasury spokesperson, who allowed that “some improvements Read full article »
Tag archives for Jpmorgan Chase
U.S. Treasury Department Continues to Punish Bank of America, JP Morgan Chase
tags: Bank Of America, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, deutschebank, Draft, Federal Housing Finance Agency, Fhfa, Freddie Mac, Goldman Sachs, Gse, Jpmorgan Chase, lending, lending news, Loan Modifications, Making Home Affordable, making home affordable incentives, Mortgage News, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, Us Treasury, Wells Fargo
Cash-Strapped Homeowners Associations Push Lenders to Foreclose
The slow-down in foreclosures in recent months is not making everyone happy. In fact, homeowners’ associations around the country, strapped for cash as more homes in their communities either become vacant or the homeowners are unable to pay their dues, are hoping to stave off insolvency by pushing foreclosures and the resulting sheriff’s sales through faster. For example, in Miami Read full article »
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, Foreclosure, Foreclosures, hoas, homeowners association, homeowners association dues, Housing Market, housing market news, jpmorgan, Jpmorgan Chase, lost title, miami beach, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate Market, real estate market news, Real Estate News, sheriffs sale
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
Numbers Indicate Banks May (Finally!) Prefer Short Sales to Foreclosures
According to research from real estate analytics firm CoreLogic, short sales in today’s real estate market have tripled in volume over the past two years and are anticipated to grow by another 25 percent in 2011. The same report indicated that CoreLogic analysts believe that these numbers show that lenders are increasingly considering “short sales as the lesser of two Read full article »
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Corelogic, Draft, Foreclosure, foreclosure alternative, Foreclosures, Jpmorgan Chase, lending, Mortgage, Mortgage Lending, Mortgages, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, Short Sale, short sale incentive, short sale investing, short sale real estate
Bank of America Donates Houses, then Bulldozes Them
Earlier this year, Bank of America announced that it would be donating houses in the Cleveland area to a local agency that manages blighted property. Now, in addition to its donation of property, the lender will also be contributing to the demolition of those houses. BofA has announced similar plans for properties in Detroit and Chicago. While this might not Read full article »
tags: Bank Of America, bank of america demolition, bank of america foreclosures, BEREL, blighted property, Bofa, bofa foreclosures, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, chicago foreclosures, Chicago Real Estate, Citigroup, cleveland land reutilization corp, cleveland real estate, detroit real estate. detroit foreclosures, Draft, Fannie Mae, Foreclosure, foreclosure demolition, Foreclosures, gus frangos, Jpmorgan Chase, neighborhood blight, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, real estate letter, Real Estate News, Realtytrac, Wells Fargo
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.