Martha Coakley, Massachusetts attorney general, is taking on the Mortgage Electronic Registration System (MERS) in order to determine whether or not the lender-created company is guilty of foreclosure fraud. “We are currently investigating creditor misconduct in connection with unlawful foreclosures… false or misleading documents with registries in the Commonwealth,” Coakley announced via a letter to the Massachusetts Register of Deeds Read full article »
Tag archives for lender settlement
Massachusetts AG Ramping Up Attack on MERS
tags: ag settlement, Attorney General, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, Foreclosure, Foreclosure Fraud, Foreclosures, lender settlement, lending fraud, ma attorney general, Martha Coakley, massachusetts ag, MERS, mortgage electronic registration system, Promissory Note, Real Estate, Real Estate Fraud, Real Estate Investing, Real Estate Investing News, Real Estate Investors, real estate investors news, Real Estate News, register of deeds association
FDIC Calls Robo-Signer Probe Narrow
FDIC Chairman Sheila Bair says that it will probably be a long time before the true extent of the damage done by robo-signers within the lending and a foreclosure industry is actually known. Although Bair praised the federal regulators currently involved in investigating the issue of “deeply flawed servicing practices,” she called the overall effort “narrow” and warned that Read full article »
tags: bank bailout, bank settlement, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, comptroller of currency, default, dodd-frank act, Draft, Fannie Mae, Fdic, Federal Probe, Foreclosure, Foreclosure Fraud, Foreclosure Scam, foreclosure settlement, Foreclosures, frank dodd act, Freddie Mac, Gses, john walsh, lender settlement, robo signer probe, robo signer settlement, Robo Signers, Robo-signer, Senate Banking Committee, sheila bair, Stop Foreclosure
State Attorneys General Urge BofA Exec to Be a Leader
In light of ongoing talks dealing with the resolution of mortgage servicing concerns and fallout from the robo-signer debacle last fall, state attorneys general decided yesterday to take Bank of America chief executive Brian Moynihan to lunch. Despite the innocuous sound of boxed lunches and an afternoon meeting on financial reform, however, what they really wanted to do was “urge Read full article »
tags: attorney general investigation, attorney general probe, Bank Of America, bank of america loans, bank of american lending, bank settlement, BEREL, Bofa, brian moynihan, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Draft, iowa ag, Iowa Attorney General, lender settlement, lending news, north carolina ag, north carolina attorney general, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate News, roy cooper, Tom Miller
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.