According to the U.S. Treasury’s July report on the federal government’s “premier housing program,” HAMP (Home Affordable Modification Program), nearly half of all participants have dropped out of the program since its inception. This means that about 625,300 homeowners who received modifications on their loans failed to make their new, lowered payments and have lost their homes to foreclosure or Read full article »
Tag archives for Participants
Nearly Half of HAMP Participants “Fall Out” of the Program
category: Real Estate News
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
More Evidence: “Confidentiality” Is Just A Nuisance To The Government
The Bureau of Justice Assistance, a component of the U.S. Department of Justice, released a report indicating that the answer to the housing crisis, at least in part, is making sure that that pesky word, “confidential” does not get in the way of public and private institutions being able to share information about you and anything Read full article »
category: Editorial
tags: Bad Actors, Bad Guys, Banks, Bureau Of Justice, Bureau Of Justice Assistance, Confidentiality, Consumer Privacy, Dangerous Precedent, Department Of Justice, Dsnews, Financial Markets, Lenders, Middle Men, Nuisance, Participants, Private Institutions, Real Estate Investors, Real Estate Transactions, That Enables Anyone, U S Department
Loan Modification: Don’t Start Saving or You’re OUT
According to Treasury Department data release Friday, March 12, nearly 90,000 “distressed borrowers” will be losing their mortgage aid under the government’s foreclosure prevention plans, and many more currently paying modified, lower payments on their loans will lose those modifications despite the fact that they are up to date. While some of these losses are due to a failure to prove Read full article »
category: Real Estate News
tags: 99s, Borrowers, Foreclosure Prevention, Government Foreclosure, Government Programs, Lenders, Loan Modification, Losses, Mandates, Mortgage Relief, Paperwork, Participants, Peril, Prevention Plans, Private Enterprise, Private Mortgage, Relief Efforts, Retirement, Saving Money, Treasury Department, Wells Fargo
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.