Tag archives for Mortgage Backed Securities

SEC Approves New Rule to Protect Against Conflicts of Interest in Asset-Backed Securities

In response to “concerns that some banks have been issuing structured products for sale to investors without telling… that the bank was also helping other investors bet against those products,” the Securities and Exchange Commission has approved a new rule designed to prevent conflicts of interest in the sales of asset-backed securities (ABS). ABS are similar to mortgage-backed securities except Read full article »

FHFA Sues 17 Lenders

The Federal Housing Finance Agency has filed suits against 17 financial institutions for selling government-controlled GSEs Fannie Mae and Freddie Mac around $200 billion in mortgage-backed securities (MBS) that later went south. Word of the suit leaked early in the day last Friday, causing Bank of America, JPMorgan Chase and Goldman Sachs stocks to fall 8.3 percent, 4.6 percent and Read full article »

NCUA Seeks Millions in Damages from Goldman Sachs

The National Credit Union Administration (NCUA) believes that Goldman Sachs has not yet fully made up for mistakes made in the sales of mortgage-backed securities (MBS), and it has filed another $491 million lawsuit against the firm. This brings the total NCUA is seeking in damages for Goldman Sachs to nearly $2 billion. NCUA believes that Goldman Sachs made “numerous Read full article »

Fannie Mae Asks Treasury for $5 Billion

Although government-controlled GSE Fannie Mae lost much less money in the second quarter of this year than the first (“only” $2.9 billion vs. $6.5 billion in the first quarter), the GSE has still requested an additional $5 billion from the U.S. Treasury, bringing the tally of taxpayer-funded support to $104.8 billion since the federal government assumed control of the entity. Read full article »

Interest Rates Continue to Fall

Although many real estate experts predicted that interest rates would start to rise at the beginning of 2011, for now, they’re hanging back. According to Freddie Mac’s weekly rate report, a 30-year fixed mortgage from the GSE averaged a rate of 4.71 percent. That is down slightly from last week some experts forecast rates to go lower still by the 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.