Although many politicians have been toying with the unpopular idea of eliminating the mortgage interest deduction that allows citizens to deduct their mortgage interest payments from their taxes, the deduction made it through the latest round of negotiations unscathed. Some lawmakers had hoped to cut this deduction as part of the debt ceiling compromise and had included language in an Read full article »
Tag archives for Lawmakers
Mortgage Interest Deduction Escapes Debt Compromise Unscathed
tags: 2012 fiscal year, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, budget cuts, carole vansickle, debt ceiling, debt ceiling bill, debt ceiling compromise, debt compromise, deficit cuts. deficit spending, Draft, Lawmakers, mid, Mortgage Interest Deduction, Real Estate, real estate industry, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, spending cuts, super committee, Tax Deductions, taxes, Treasury Department
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 »
category: Real Estate News
The Real Estate Impact Of The Arizona Immigration Law
While it’s certain that lawmakers were aware that the new Arizona immigration law requiring everyone in Arizona to carry proof of U.S. citizenship would make some waves, it’s unlikely that they expected those waves to take the form of a foreclosure tsunami on the housing market in areas like Phoenix. However, that is just what some analysts are predicting. The Arizona Read full article »
category: Real Estate News
tags: Advocates, Apartment Vacancies, Arizona Republic, Deficiency Judgments, Department Of Homeland, Department Of Homeland Security, Dramatic Jump, Fallout, Foreclosure, Home Foreclosures, Housing Market, Hundred Thousand, Illegal Alien, Illegal Immigrants, Illegal Residents, Immigration Law, Lawmakers, Lenders, Mass Exodus, Undocumented Aliens
Banks are Being Seized for Real Estate-Related Foreclosures: Maybe 30 Billion to Community Banks Will Help…
This past weekend, the FDIC shut down banks in both Nevada and Washington. Carson River Community Bank in Carson City, Nevada and Rainier Pacific Bank in Tacoma, Washington bit the dust late Friday, with Carson River’s deposits being assume by the Heritage Bank of Nevada and Rainier Pacific’s deposits being assumed by Umpqua Bank in Roseburg, Oregon. In both cases, Read full article »
category: Real Estate News
tags: 30 Million, Bailout, Billion Dollars, Billions Of Dollars, Carson City Nevada, Carson River, Commercial Loans, Community Bank, Community Banks, Contingency, Fdic, Heritage Bank Of Nevada, Intriguing Possibilities, Lawmakers, Loan Defaults, Rainier Pacific Bank, Residential Loan, Roseburg Oregon, Seizures, Small Business Administration, Tacoma Washington
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.