According to information released in July by Lender Processing Services (LPS), fully 42 percent of all delinquent homeowners have not made a payment on their mortgage in more than a year. The average time of delinquency is 397 days, a new record. Despite these foreboding numbers, though, other statistics looked brighter, with first-time foreclosure starts at nearly three-year lows and Read full article »
Tag archives for Mortgage Delinquencies
42 Percent of Delinquent Homeowners Haven’t Made a Payment in Over a Year
Mortgage Delinquencies Decline Across the U.S.
According to a recent survey released by the Mortgage Bankers Association (MBA), the “latest delinquency numbers represent significant, across-the-board decreases in mortgage delinquency rates in the U.S.,” according to MBA’s chief economist, Jay Brinkmann. In fact, total delinquencies (not including homes already in foreclosure) are at the lowest levels since the end of 2008, and mortgages with one payment past Read full article »
36,000 in Massachusetts Alone are Living Long-Term in Foreclosed Homes
According to mortgage data processor Lender Processing Services, Inc., About 36,000 Massachusetts property owners are living – and have been living – rent- and mortgage-free in their homes as they fight foreclosure. While at first this sounds like nothing more than a case of people “falling through the cracks” or lenders opting to leave homeowners in the homes until such Read full article »
Fed Says there is No One-Size-Fits-All Short Term Remedy for the Housing Crisis
At a recent housing crisis meeting in Washington, D.C., Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, said something that investors have been saying for literally years now and that the federal government certainly did not want to hear: “no one-size-fits-all short term remedies would work.” Pianalto went on to say that the nation’s housing market collapse 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.
