Tag archives for Troubled Asset Relief Program

Nearly $300 Million in TARP Funds Lost Through Fraud

Two former bank executives have been indicted on charges of “conspiracy to commit securities fraud, securities fraud, falsifying corporate books and records and lying to auditors.” As a result of their alleged crimes, the federal government may have lost $298 million in Troubled Asset Relief Program (TARP) funds irretrievably. Ebrahim Shabudin and Thomas Yu, respectively the former chief credit officer Read full article »

TARP Money for Homeowners Likely to Go Toward National Debt Instead

Around $30 billion allocated in the Troubled Asset Relief Program (TARP) to help struggling homeowners will likely be paid on the national debt instead, reports ProPublica, a self-proclaimed “independent, non-profit newsroom” dedicated to “exploring the abuses of power and betrayals of the public trust by government, business and other institutions”. The report indicates that while about $2 billion of that Read full article »

Small Banks Apply for, Use Less than Half of Small-Business Lending Fund

The U.S. Treasury’s Small Business Lending Fund (SBLF) has been under-used by the banks it was intended to help, according to Colleen Murray, a Treasury spokeswoman. Of the $30 billion in capital in the program designed to increase small-business lending, only $11.6 billion has even been applied for. And of the 847 banks that did apply for funds, 315 planned Read full article »

Obama Will Veto Bills Terminating “Foreclosure Prevention”

Lest there be any confusion, the Obama administration firmly stated yesterday that “President Barack Obama would veto a Republican-backed bill killing his signature mortgage foreclosure prevention program”. In a statement from the administration, it was stated that the Obama administration “strongly opposes” House action to eliminate HAMP” and that the president’s “senior advisors would recommend that he veto the bill”. While Read full article »

Officials Blame Low Cost of TARP on Foreclosure Prevention Failure

A congressional panel reported yesterday that the Troubled Asset Relief Program (TARP)’s final cost will “be less than expected, in part because it will accomplish far less than envisioned for American homeowners.” Had the government done enough to prevent foreclosures instead of paying “a heck of a lot more attention Wall Street” then the bill would have been closer Read full article »

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.

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.