Over the past few weeks Republicans in Congress have led efforts to eliminate four foreclosure alternative and prevention plans, saying that they are doing more harm than good. Many experts agree with them, since programs like HAMP have dramatically underperformed while still effectively using millions or even billions of taxpayer money. The Department of Housing and Urban Development, however, believes Read full article »
Tag archives for neighborhood stabilization program
House Nixes FHA Short Refi Program
In a 256 to 171 vote yesterday, the U.S. House of Representatives passed the FHA Refinance Program Termination Act (HR 830). Ultimately, one Republican voted against the bill and 18 Democrats voted for it, with the vote otherwise split along party lines with Republicans supporting and Democrats against the move. While the bill did make it through the house, most Read full article »
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HAMP Survives First Round of Cuts, Two Other Programs Do Not
Republicans proposed cutting four foreclosure relief programs in their new budget (read this coverage here). After all was said and done, two programs ultimately got the axe (or at least are up for cutting so far). The FHA Refinance Program, which enabled underwater homeowners to refinance into a new FHA-insured mortgage as long as the lender wrote off at least 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.