Tag archives for Mortgage Industry

Ginnie Mae to Sell Off Delinquent Loans Faster

Ginnie Mae will now allow servicers to buy out delinquent loans at the end of a successful trial payment plan rather than requiring three months of missed payments before the buyout. This move is in keeping with recently released Federal Housing Administration (FHA) guidelines that require a three-to-four-month trial payment period before a loan modification can be made permanent. The Read full article »

California Rep Proposes Bill Containing Mandatory Loss Mitigation

Unsatisfied with last week’s cease and desist orders issued to major lenders last week by the Office of the Comptroller of Currency (OCC), congresswoman Maxine Waters (D-CA) has created a bill that she believes will be far more effective in “fixing” the mortgage servicing industry than the “light slap of the wrist” that lenders received last week. Waters’ bill has Read full article »

Goldman Sachs Bet Against the Subprime Mortgage Market, Lied About Profits

Two years into a bi-partisan Senate probe, the Senate panel has determined the Goldman Sachs Group Inc. not only bet billions against the subprime mortgage market but then “clearly mislead their clients and they mislead the Congress,” announced Senator Carl Levin (D-MI) yesterday evening. Levin added that “Goldman was, I think, the only major bank that did well during the Read full article »

Geithner Admits Government Had a Role in Bringing Down the Housing Market

While he steadfastly maintains that administration failure HAMP (Home Affordable Modification Program) is critical to homeowners everywhere, U.S. Treasury Secretary Timothy Geithner did admit yesterday in a hearing before the House Committee on Financial Services that the government made “avoidable” mistakes that probably led, in part, to the housing market crash. Think the treasury secretary is moving away from the Read full article »

Obama Administration to Recommend Government Exit from the Mortgage Market

Today, all indications are that the Obama administration is going to announce plans to exit the mortgage business. While the details of the plan have not yet been made public, predictions about the process include the following: Maximum loan limits will likely be lowered Fannie Mae and Freddie Mac will likely raise fees The end of the 30-year fixed-rate mortgage The report will not 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.