Fannie Mae’s former CEO may have some explaining to do to the SEC. Daniel Mudd, former CEO of Fannie Mae, was the recipient of a Wells notice from the Securities and Exchange Commission, which is considering taking legal action against him. A Wells notice informs the recipient that the SEC is considering legal action and allows the recipient to preempt Read full article »
Tag archives for Subprime Mortgages
Former Fannie Mae CEO Receives Wells Notice
category: Main Content, Real Estate News
tags: BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, ceo fannie mae, daniel mud, Draft, Fannie Mae, fannie mae disclosure, fannie mae subprime mortgages, Foreclosure, Foreclosures, Freddie Mac, GSE disclosures, Real Estate, Real Estate Investing News, Real Estate Investor, Real Estate Investors, real estate investors news, Real Estate News, SEC, sec daniel mudd, sec fannie mae, sec investigation, Securities And Exchange Commission, Subprime Mortgages, wells notice
Were Minorities Targeted for Risky, Subprime Loans?
While there are many opinions about the holders of subprime mortgages, including that contingent which simply states that people who fell prey to them basically “should have known better,” there are some pretty clear indications that minority groups of blacks and Hispanics were targeted by lenders for these loans, according to the National Community Reinvestment Coalition (NCRC). According to the study, Read full article »
category: Editorial
tags: Borrowers, Community Reinvestment, Contingent, Credit Risk, Foreclosure, Government Agency, Hispanics, Home Loans, Inception, Independent Consumer, Loan Brokers, Loan Type, Minorities, Minority Groups, National Community Reinvestment Coalition, Regression Analysis, Samplings, Subprime Loans, Subprime Mortgages, Supervisory Agency
Summary of the “Housing And Economic Recovery Act of 2008″ Part 2
As provided by the U.S. Senate. Also see Part 1 of Summary of the "Housing and Economic Recovery Act of 2008" B. Summary of the “HOPE for Homeowners Act of 2008" The “HOPE for Homeowners Act of 2008" creates a new, temporary, voluntary program within FHA to back FHA-insured mortgages to distressed borrowers. The new mortgages offered by FHA-approved lenders Read full article »
category: Uncategorized
tags: Bailout, Credit Markets, Distressed Loans, Economic Recovery Act, Federal Reserve Chairman, Federal Reserve Chairman Bernanke, Fha Approved Lenders, Fha Borrowers, Fha Insurance, Financial Institutions, Government Insurance, Hoard, Insured Mortgages, Owner Occupants, Program Oversight, Subprime Mortgages, U S Senate, Voluntary Participation, Voluntary Program, Windfall
Warren Buffett: “We’ve Bought Some Subprime Paper On The Open Market”
MoneyNews ran an interesting article about Warren Buffett's investment activity in the current market. Like always, you have to read between the lines with that guy. He never just comes right out and says what he thinks, but you can clarify his convictions by analyzing what he's buying. And what is he buying? Apparently, some subprime mortgages have been in Read full article »
category: Real Estate News
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:
-
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.