Tag archives for loan mod

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 »

REO Inventories Decline

According to Barclays Capital, at the end of July 2011 banks held 17 percent fewer REO properties than they held in September 2010. This is likely due in large part to the robo-signing scandal that made headlines right around that time and the extended foreclosure timelines that have been a result. Loans are spending far more time in delinquency and Read full article »

Less than 3 Percent of Loan Mods Include Principal Deductions

In a report released earlier this week by ratings agency DBRS, the firm revealed that one of the biggest and most controversial topics in the loan modification industry is playing one of the smallest actual roles. According to the report, only 2.8 percent of all loan modifications performed during the first quarter of 2011 actually involved any sort of principal Read full article »

New Jersey Attorney General Takes Down Seven Illegal Loan-Mod Businesses

In the state of New Jersey, you cannot offer loan modification services if you are not licensed to do so by the state. And it can cost a pretty penny if you attempt to work around this requirement. Just ask the seven unlicensed loan modification businesses now facing nearly $90,000 in penalties and restitution fees thanks to the state’s attorney Read full article »

Justice Department Extends Deadline for Bank Settlement

Banks required to submit a plan of action for handling loan modifications and foreclosures are going to get an extension on crafting that plan, thanks to the federal Justice Department. Mortgage servicers were supposed to submit their plans for dealing with contacting struggling borrowers, handling loan modifications in good faith and adjusting other problematic aspects of the foreclosure process yesterday. 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.