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 »
Tag archives for Wall Street
Officials Blame Low Cost of TARP on Foreclosure Prevention Failure
tags: assistant secretary for financil stability, BEREL, Bryan Ellis, Bryan Ellis Real Estate Letter, carole vansickle, congress tarp, congressional panel, Draft, emergency homeowners relief program, FHA lending, Fha Loan, fha refi, fha refinance program, fha short refi program, Foreclosure, foreclosure news, Foreclosures, Hamp, hamp congress, hamp termination, hamp veto, Home Affordable Modification Program, main street, Real Estate, Real Estate Investing, Real Estate Investing News, Real Estate News, Tarp, tarp bailout, tarp panel, tarp taxpayers, tim massad, too big to fail, Troubled Asset Relief Program, Us Treasury, Wall Street, wall street bailout
Financial Reform Legislation Includes Mortgage Aid for the Unemployed
While the main focus on financial reform has been on how the new rules and regulations will impact Wall Street and “Main Street” when it comes to how investors, bankers and borrowers work together, tucked into “Wall Street Reform” is a $1 billion “emergency homeowner’s relief fund” that can be distributed starting October 1 of this year. An additional $1 Read full article »
category: Real Estate News
Wall Street Reform Means that Renters in Foreclosed Homes have 90 Days Grace
Financial reform and consumer protections are the first things that spring to mind when most people think of the Dodd-Frank Wall Street Reform and Consumer Protections Act, but for lenders and other note-holders, start thinking about 90 days grace as well. The bill includes an extension of the Protecting Tenants at Foreclosure Act (PTFA) though the end of 2014. This Read full article »
category: Real Estate News
tags: Act, Consumer Protections, Days Grace, Dodd, Foreclosed Homes, Foreclosure, Good Solution, Grace Period, Income Housing Coalition, Landlord, Landlords, Lenders, Low Income Housing, Mortgage Payments, National Low Income Housing, National Low Income Housing Coalition, Nlihc, Reform Bills, Rent, Wall Street
Dubai Reviving Real Estate Through Development Programs
On March 15, the Dubai government announced that it will allow locals to develop commercial and industrial land gifted to them by the nation’s ruler, Sheik Mohammed bin Rashid Maktoum, in exchange for a fee of 50 percent of the land’s assessed value. Previously, these lands had been tightly controlled by the government, and their uses were closely monitored and restricted. 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:
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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.