Tag archives for Loan Servicers

GSE Loan Modifications Dropping, But More Payment Reductions Succeed

The Federal Housing Finance Agency (FHFA) reported in their first quarter 2011 report that the government-controlled GSEs have made fewer loan modifications again for the third consecutive quarter. However, those modifications have “resulted in deeper payment reductions for more people,” said FHFA. The number of completed GSE modifications fell by more than 30,000 during the first quarter of 2011, but Read full article »

Congresswoman Calls for National Foreclosure Suspension

Citing recent reports of “robo-signers” at some of the nation’s biggest lenders, Maxine Waters, a California representative (D), called for a nationwide moratorium on foreclosures for the duration of a federally run investigation. To supplement her request, Representative Waters wrote letters to Timothy Geithner (Treasury Secretary), Edward DeMarco (Federal Housing Agency Acting Director) and David H. Stevens (FHA Commissioner). In Read full article »

Credit Consequences and Loan Modifications

While a loan modification may save your house, currently it can be disastrous for your credit. This is because many lenders and loan servicers report loan modifications that they have accepted and approved to the credit bureaus as “partial payments” so that the borrower’s history reflects the fact that they were not able to make payments to which they originally Read full article »

Chinese Drywall Forbearance for Freddie Mac-Backed Mortgages

Freddie Mac has instructed its loan servicers that they can give borrowers with Chinese drywall suspended payments for 3 months or reduced payments for 6 months to help them resolve the problems with their homes. The drywall, which causes a foul odor, corrodes pipes and is generally unpleasant and unhealthy – it can cause headaches and difficulty breathing – requires Read full article »

Obama Mortgage Policy: Cause Unnecessary Loan Modifications Through Bribery

In his latest demonstration of fiscal idiocy, Barack Obama has proposed an irresponsible new policy with utterly ridiculous and immature features.  I'll give you three examples of the sheer stupidity of his new proposals, but first I want you to be clear on a few terms: Borrower - this is a person who has taken out a mortgage loan Investor - this 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.