doddfrank: 30% down or Wells Fargo won't write your loan?!?! - 01/14/11 01:41 AM

 
That's the latest news being reported by the WSJ about the new proposal from Wells Fargo.  The Dodd-Frank financial overhaul law is causing regulators to get busy with trying to meet the April deadline for issuing regulations.  Not surprisingly, Wells Fargo is also proposing that with this new down-payment requirement, they would be exempt from the regulation that would require them to hold at least 5% of any mortgage that is securitized.  Imagine that.  "'A lot of originators just aren't going to do' loans that require risk retention" said Steven O'Connor, vice president for government relations at the Mortgage Bankers … (0 comments)

 
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Nick Dailey

RE/MAX: Northern Kentucky Real Estate - NKY MLS -...

Union, KY

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