Along with the announcement that its “First Look” program has generated nearly 35,000 home sales since its inception last year, Fannie Mae VP for Alternative REO Dispositions Jay Ryan took a minute to encourage lenders and banks to make sure to keep investors in check: “While investors play an important role in the REO market, homebuyers who intend to occupy Read full article »
Tag archives for Neighborhood Stabilization
Fannie Mae: Investors Do Not Merit “Priority Consideration”
category: Mortgage News, Real Estate News
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 »
category: Real Estate News
tags: Borrowers, Community Organizations, Community Reinvestment Act, Destructive Cycle, Facets, Federal Government, Federal Reserve, Federal Reserve Bank, Federal Reserve Bank Of Cleveland, Financial Institutions, Foreclosures, Housing Market, Market Collapse, Mortgage Delinquencies, Mortgage Foreclosures, Neighborhood Stabilization, Oversupply, Resale Values, Sandra Pianalto, Stabilization Program, Term Remedy
Freddie Mac Sets Up Specialized (Weird?) Auction in Phoenix
Freddie Mac will auction off 135 homes in Phoenix, Arizona in the coming weeks, but in a very unusual way: The auction will be tailored to individual homebuyers, and nearly a third of the homes up for auction will be set aside for first-time borrowers participating in the federally-sponsored Neighborhood Stabilization Program (NSP). Normally, auctions are open to the highest Read full article »
category: Real Estate News
tags: Asset Management Firm, Auction Homes, Auctions, Freddie Mac, Gse, Highest Bidder, Homes In Phoenix Arizona, Investors, Las Vegas, Neighborhood Stabilization, Owner Occupants, Participants, Real Estate Auction, Reo, San Bernardino, Specialized, Stabilization Program, Time Borrowers, Time Homebuyers, Unusual Way, Weird
Neighborhood Stabilization Programs to Get Discounts on REO Properties
HUD announced earlier this week that it will be providing discounts on REO properties to state and local governments and non-profit organizations during the already-established “First Look” viewing period for HUD foreclosed properties . “First Look” is a program that gives these entities a grace period in which they can view the home but other parties cannot. Now, in addition Read full article »
category: Real Estate News
tags: Acorn, Eligible Organizations, Entities, Fannie Mae, Fha, Foreclosed Hud Homes, Foreclosed Properties, Foreclosure, Grace Period, Hud Properties, Initiative, Initiatives, Investors, Liberal Politicians, Neighborhood Stabilization, Nsp, Obama, Owner Occupant, Period Of Time, Profit Organizations, Reo Properties, Stabilization Programs, State And Local Governments, Stimulus
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.