So I’m sitting here in a continuing education today getting the credit for my eight hours that I needed for 2011. As of the time I’m writing this we are going through: THE NATION’S FAIR HOUSING ACT The certified instructor is talking about discrimination, rules, regs, American’s with disabilities, more rules, ECOA, more rules and more rules and the conversation digresses to fraud. He takes a time out to discuss the effect that these rules have had within lending and our housing industry. He … (56 comments)
dodd frank act: 1 Week after Dodd-Frank, I'm......
- 04/09/11 09:40 AM
Today....I've worked, worked and worked. I wanted to make sure that I got my work done as the temperature was to climb from a balmy 41 to today's temp of somewhere in the 70s with the 80s hitting us tomorrow. We did all of our outside work this morning; We did all of our homework this morning; I did office work early this afternoon, and tonight, I'll probably relax and take it easy a bit.... Just so amazing. Winter has left and Summer seems to have arrived a bit early. I hope not too early as I can't stand the hot … (7 comments)
dodd frank act: Rock REAL ESTATE FURTHER????....Qualified & Non-Qualified Residential Mortgages
- 04/05/11 02:41 PM
The Office of the Comptroller of the Currency, the Federal Reserve Board, FDIC, The SEC (why the SEC? Oh yeah...a mortgage is a security), the Federal Housing Agency (FHA) and HUD announced that the agencies will release a rule that addresses section 941 of the Dodd-Frank Act. Riddle me this Batman..... If You are a Mortgage Lender What Sort of Liability can Kill and industry, but still be required by consumers???? A Non Qualified Residential Mortgage So....that begs two questions! 1) Why Should I care? The reason we need to care is that the rates of Non-Qualified Residential Mortgages ARE … (14 comments)
dodd frank act: Dodd-Frank : Judge Stays the Implementation of the Law....for Now!
- 04/01/11 04:11 PM
As posted in the Washington Examiner.... http://washingtonexaminer.com/blogs/opinion-zone/2011/01/dodd-frank-financial-reform-law-unconstitutional-violation-separation-pow In the Washington Post, former White House counsel C. Boyden Gray recently argued that the sweeping Dodd-Frank financial "reform" law passed last summer is unconstitutional, since it gives the government virtually unchecked power to seize financial firms that supposedly might fail, and to legislate through regulation. For example, under Dodd-Frank, " The Treasury can petition federal district courts to seize not only banks that enjoy government support but any non-bank financial institution that the government thinks is in danger of default and could, in turn, pose a risk to U.S. financial stability. If … (32 comments)
dodd frank act: Dodd-Frank Starts Today and April Fool's is On the Consumer
- 04/01/11 02:37 AM
I can't believe the compensation changes are here. This is going to cost the consumer....Big Time. Mistakes, whether caused by the consumer or not are going to be eaten by the lender. Guess who's gonna pay???? The consumer....Lenders will raise their rates to insure that they can't get hurt bad from the new law. Ouch I've had the privilege of talking to so many people who are concerned about this new law. There may be a last minute injunction that stalls the bill, but unless something drastic happens, we all need to be prepared to deal with the Dodd-Frank Act as … (3 comments)
1 “Let not your heart be troubled; you believe in God, believe also in Me. 2 In My Father’s house are many mansions; if it were not so, I would have told you. I go to prepare a place for you. 3 And if I go and prepare a place for you, I will come again and receive you to Myself; that where I am, there you may be also. 4 And where I go you know, and the way you know.” (John 14:1-4, New King James Version)
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