Tag archives for Us Treasury

U.S. Treasury Department Continues to Punish Bank of America, JP Morgan Chase

Based on a second-quarter assessment of the 10 largest servicers participating in the Making Home Affordable Program, the U.S. Treasury Department plans to continue to withhold incentives from Bank of America and JPMorgan Chase. They two lenders have failed to show “substantial improvement” in borrower outreach, borrower evaluations and program reporting, said a Treasury spokesperson, who allowed that “some improvements Read full article »

New Mass-Refinancing Plan on the Table

The White House is considering a mass-refinancing plan that would enable homeowners with government-backed mortgages to refinance into today’s low interest rates. The Obama administration hopes that if the plan comes to fruition the refinancing would leave consumers with lower mortgage bills and more spending money. Currently, many homeowners are too “underwater” on their mortgages or lack the credit standing Read full article »

U.S. Treasury Promises GSEs Will be Privatized, Maybe

In response to an article run by the Washington Post indicating that the Obama administration might opt to maintain an active role in the financial markets via oversight of government-controlled GSEs Fannie Mae and Freddie Mac, U.S. deputy secretary of the Treasury Neal Wolin has declared publicly that “the private sector…should be the dominant provider of mortgage credit.” He went Read full article »

Fannie Mae Asks Treasury for $5 Billion

Although government-controlled GSE Fannie Mae lost much less money in the second quarter of this year than the first (“only” $2.9 billion vs. $6.5 billion in the first quarter), the GSE has still requested an additional $5 billion from the U.S. Treasury, bringing the tally of taxpayer-funded support to $104.8 billion since the federal government assumed control of the entity. Read full article »

Real Estate Scam of the Day: Foreclosure Scammer to Spend Next 25 Years in Jail

A man who promised California homeowners foreclosure settlements and eventual mortgage payoff will spend the next 25 years behind bars. Jeff McGrue promised homeowners that he would help them pay off their mortgages and alleged that he had worked out deals with banks. However, when happy homeowners sent him their monthly payments to resolve their foreclosures, McGrue kept the cash 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.