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Did Uncle Sam Co-Sign your mortgage? - 11/02/07 10:47 AM
I was just sent a link to sign a petition against a proposed Bill H.R. 3915 written by Miller, Watt, and Frank.  which effectively will annihilate the mortgage brokerage industry.
 Here is the link to the Bill
http://www.house.gov/apps/list/press/financialsvcs_dem/subprimeleg.pdf
This legislation is geared to remove the financial incentives paid by lending institutions to brokers as a means to attract loans.   In short, these wunderkind politicians have seen the light to solve the mortgage industry crisis and simply put, it is to only allow broker licenses to individuals with substantial net worths (increases limit from $25,000 to $100,000); to force brokers to act solely as agents (not … (5 comments)

HR 3915 - The slaughter of the mortgage brokerage industry? - 11/01/07 04:42 PM
… (4 comments)

 

David Alterman

Santa Clarita, CA

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Equity Advantage Mortgage Corporation

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