In December of 2009, Maryland governor Martin O’Malley (D) assembled a group of legislative staff, housing counselors, lawyers, bankers and mortgage servicers to create a foreclosure mediation program for the state to help “bridge the huge gap” for people eligible for federal foreclosure prevention but denied modifications from lenders due to failure to provide paperwork or meet other criteria. Hopes Read full article »
Tag archives for maryland real estate
Maryland Foreclosure Mediation Program Fails to Meet Expectations
Underwater Home Volume in Baltimore Stabilizes as 120,000
According to CoreLogic, the number of homeowners in the Baltimore area who are underwater on their mortgages has stabilized – at around 120,000. This number is around 19 percent of all mortgaged homes – essentially the same last year. However, since home values have continued to drop and some experts predict that they could fall by 20 percent in the Read full article »
Maryland County Charging for Foreclosure Maintenance
When a homeowner loses a property to foreclosure, most would expect that at least the loss would lead to the removal of a burden from their back. After all, when the bank takes back the property; one expects the property to become the bank’s responsibility. However, in one Maryland county, owners of foreclosed, abandoned properties could still be charged for Read full article »
Wells Fargo Backing Down on Maryland Foreclosures
Although Wells Fargo has steadfastly maintained that it does not have the robo-signer issues that have plagued so many other major lenders, it is backing down and refilling foreclosures in Maryland starting today. According to a statement released by the lender on Wednesday, there are potential flaw in some pending Maryland foreclosures that will mean that the entire process needs 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.
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.
