You can’t lose what you never had – or can you? The Massachusetts Supreme Court ruled earlier this week that Francis Bevilacqua, who purchased his home at a foreclosure auction in 2006, never had legal title to the property since the lender had no right to foreclose on it in the first place. Five years later, the robo-signing bank’s “dubious Read full article »
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Massachusetts Supreme Court Revokes Ownership of Property Purchased at Foreclosure Auction
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The Next Logical Step: Foreclosed-Home Buyers at Risk in Massachusetts Foreclosure Decision
In Massachusetts, the groundbreaking foreclosure reversal ruling of a few weeks ago is now following its logical path. In what “appears to be the next step in the conversation,” according to borrower lawyer Paul Collier, the Supreme Judicial Court of Massachusetts will now examine buyers’ rights when a foreclosed home has been resold. The case will bypass lower courts and Read full article »
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Case Study: A Close-Up Look at the Massachusetts Foreclosure Ruling
Since the Massachusetts Supreme Judicial Court ruled last week that Wells Fargo and US Bancorp unjustly foreclosed on two properties the mortgages to which they did not actually hold verifiable title, the entire real estate investing industry – along with banking and legal eagles – has been in an uproar. The decision which invalidated two foreclosures that had already been Read full article »
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Massachusetts Foreclosure Judgment Fallout Continues
Last week, the Massachusetts Supreme Judicial Court (SJC) handed down what bodes to be a landmark decision not just for homeowners facing foreclosure, but for lenders throughout the country and homebuyers and note-buyers everywhere. In the decision, the SJC determined that two foreclosures enacted by US Bancorp and Wells Fargo were invalid because the two lenders had not adequately proved Read full article »
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Massachusetts Foreclosure Case Likely to Set the Tone Against Banks’ Foreclosure Decisions
When the Massachusetts Supreme Judicial Court upheld a lower court’s decision that two foreclosures were invalid because the banks did not adequately prove that they owned the mortgages in question, it did more than just save those plaintiffs’ houses. The decision likely will set the tone throughout the state and the country for other decisions on foreclosure reversals stemming from Read full article »
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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.