Tag archives for Wells Fargo foreclosures

Wells Fargo Likely to Lose More than $1 Billion in Legal Battles Over Mortgage, Foreclosure Practices

Wells Fargo may not have held enough money in reserve to cover legal losses, it announced yesterday, saying it “may need more than $1 billion in additional funds to cover potential legal losses related to its mortgage and foreclosure practices”. The lender, which held itself largely above the fray last fall in during the robo-signer fiasco, has fallen hard as Read full article »

Wells Fargo Shareholders Meeting Ends in Arrests

Angry homeowners and community advocates stormed the Wells Fargo shareholders meeting last week to demand that the lender declare a moratorium on the foreclosure process. When Chairman and CEO John G. Stumpf refused to do so, protesters refused to leave and were eventually arrested. “I get the fact that families are hurting,” said Stumpf, “but moratoriums only put off the Read full article »

Wells Fargo Backing Down on Maryland Foreclosures

Although Wells Fargo has steadfastly maintained that it does not have the robo-signer issues that have plagued so many other major lenders, it is backing down and refilling foreclosures in Maryland starting today. According to a statement released by the lender on Wednesday, there are potential flaw in some pending Maryland foreclosures that will mean that the entire process needs Read full article »

Case Study: A Close-Up Look at the Massachusetts Foreclosure Ruling

Since the Massachusetts Supreme Judicial Court ruled last week that Wells Fargo and US Bancorp unjustly foreclosed on two properties the mortgages to which they did not actually hold verifiable title, the entire real estate investing industry – along with banking and legal eagles – has been in an uproar. The decision which invalidated two foreclosures that had already been 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.