Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Please Restore American Financial Stability the right way Senator Dodd!
May 14, 2010
 Re: SA.3962 (Restoring American Financial Stability Act of 2010)
 Dear Senator Dodd,
 I write to you today as a real estate and mortgage professional, and member of the National Association of Realtors(NAR) and a licensed mortgage professional, regarding an amendment (SA. 3962) introduced by Senators Merkley (D-OR) and Klobuchar (D-MN) to S. 3217, the "Restoring American Financial Stability Act of 2010" which was approved.  I have serious concerns with the amendment and fear it will harm small business and consumers nationwide.  For the reasons below, I strongly urge you to oppose this and any other amendments, that would treat origination channels differently, which has already been demonstrated by the lack of licensing requirements for loan originators who are employed by banks.  
I believe the amendment will severely limit a consumer's choice of how best to pay for their home by removing a choice of paying closing costs in the interest rate. The consumer has already had increased closing costs with the implementation of HVCC and the new FHA insurance increases that have been imposed earlier this year which have increased the cost to consumers by more than $700. A consumer with less than a 720 credit score can also expect to pay ... more

__________________________________________________
Are you on The Rain? Grow Your Network!