You are not likely to see the president of the Mortgage Bankers Association (MBA), Dave Stevens and representatives from the National Housing Conference (NHC) and the Center for Responsible Lending (CRL) all on the same side of the table very often, but the group has teamed up - along with nearly 40 others - to fight “draconian requirements” proposed for Read full article »
Tag archives for qualified residential mortgage
Mortgage Bankers Association and Housing Advocates Team Up to Fight 20 Percent Down
tags: 20 percent down, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, Center For Responsible Lending, CRL, dave stevens, discrimination in lending, dodd frank financial reform, dodd-frank bill, Draft, ethan handelman, Financial Reform, ken edwards, lending, Mba, Mortgage, Mortgage Bankers Association, Mortgage Lending, Mortgage Rates, Mortgages, national housing conference, NHC, QRM, qrm standards, qualified residential mortgage, rental, rental entrapment, rental real estate, skin in the game
Major Lender Pushes for 30 Percent Down on Home Loans
Wells Fargo has a new hurdle for homeowners: a 30 percent down payment on a qualified residential mortgage (QRM). The FHA and the Department of Housing and Urban Affairs are working steadily to establish a firm set of new mortgage rules by the end of April, and Wells Fargo, along with other major lenders, are looking for minimum 20 percent 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.