regulations: “Sometimes the regulations just SUCK”
- 09/13/17 07:24 AM
“Sometimes the regulations just SUCK”
Hello Eric,
Good Afternoon, see email from Joe. Per his email, I have to wait 3 or 5 years before I can buy a place for the kids and me. This is so disheartening.
I thought once the divorce was complete, I would be done with my ex, but not the case. Is there anything you can do?
Divorce isn’t easy. It can be very tough when there is real estate holdings involved. In this situation the wife deeded her interest in three properties and the divorce decree indicated that it “holds her harmless” as to the debt … (5 comments)
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regulations: “More Regulations and another Tax for Connecticut Home Sellers”
- 04/09/15 01:06 AM
“More Regulations and another Tax for Connecticut Home Sellers”
My friend Attorney William Nathanson sent this information to me that needs to be shared with Realtors, Mortgage loan officers, home sellers and home buyers.
At some point this state will figure out that more people moving out compared to moving here is devastating for business owners and homeowners. The leadership in this state continues to NOT be business friends and the unemployment rate continues to be one of the worst in the country. The leadership doesn’t understand that attempting to pay off a deficit through taxation will never work:
There’s a new Uniform … (23 comments)
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regulations: “OK, Maybe Not Being Repealed, but Some Regulation Relief Could be on the Way”
- 03/31/15 11:18 PM
“OK, Maybe Not Being Repealed, but Some Regulation Relief Could be on the Way”
I have long been a proponent of repealing the Dodd-Frank Act, but the next best thing is to start chipping away at the regulations that has affected and cost every consumer and everyone in business beyond belief.
http://themreport.com/news/government/03-26-2015/house-panels-passes-bills-to-tweak-dodd-frank-cfpb
… (18 comments)
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regulations: Dodd-Frank Required 398 Rules as Part of the Act
- 11/11/14 09:32 PM
“Dodd-Frank Required 398 Rules as Part of the Act”
So far, only 58% of these rules are up and running, 19% are apparently written and the rest have never even been written as of yet.
As if we are not bogged down enough, there is going to be another 167 set of rules and regulations that will continue to hinder economic growth in this country.
Hopefully, Washington will re-look at the damage Dodd-Frank did to the country and what can be done to fix this bad legislation. Repeal will be the best way to correct the … (21 comments)
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regulations: “The Best Kind of Regulation, Your Own”
- 03/12/14 02:05 AM
“The Best Kind of Regulation, Your Own”
There are so many regulations affecting the mortgage and real estate industries, it is almost impossible to keep track of all of them.
I am constantly being asked about how we manage and keep track of all the regulations. Let me share two secrets.
First, is our compliance officer Bethany LaBua. She keeps all of us on the straight and narrow. Always keeping all new information in front of all of us. Never being afraid to challenge any of us, not even me, not always an easy task. It is … (19 comments)
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regulations: 2013 is a Rebound Year
- 01/05/13 03:41 AM
“Mortgage Volume in 2012 was Outstanding for Us and Many Mortgage Brokers, but they are Saying 2013 is a Rebound Year”
If 2013 is going to be a rebound year, what was 2012? There was no shortage of mortgage opportunities this past year. Our office traditionally does about 50% purchase business and 50% refinance business. I don’t see 2013 being much different.
There are still so many homeowners that can’t refinance, they have mortgages that are not owned by Fannie Mae or Freddie Mac or FHA and VA mortgages. They want to keep their homes, they want to keep paying their … (6 comments)
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regulations: DOES ANYONE WANT MORTGAGES TO CLOSE QUICKER?
- 08/22/12 10:46 PM
“Does Anyone Want Mortgages to Close Quicker?”
I took a mortgage application on August 1st. $250,000 purchase price, $50,000 down, 750 credit scores and great income.
We got the approval today, there were 32 conditions that need to be handled prior to getting a clear to close. We close lots of loans with this lender every month, so I decided to contact the underwriter on the file to find out why all these conditions were required?
The underwriter went right down the list with me. 19 of these conditions were items that need to be available, as … (7 comments)
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regulations: DODD-FRANK APPRAISAL RULES COMING
- 06/11/12 10:56 PM
“Dodd-Frank Appraisal Rules Coming”
I have been beating the drums for a long time about the need to repeal Dodd-Frank. It is one of the most business intrusive pieces of legislation ever created in this country. Maybe pieces of legislation are correct, it is volumes of rules and regulation that affect all businesses.
The appraisal industry has no business being part of Dodd-Frank. Between HVCC, the AMC system and Dodd-Frank, appraisers have lost their independence. The really is no free enterprise system in the appraisal world today.
Let me know what you think?
Don't Forget, Dodd-Frank Appraisal Rules Are Coming
By: … (3 comments)
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regulations: PROFITS AFFECTED BY DODD-FRANK, MEANS LESS HIRINGS
- 05/14/12 10:34 PM
“Profits Affected by Dodd-Frank, Means Less Hirings”
The amount of rules and regulation that affect banks and mortgage companies is beyond belief. This bill got created to protect the best interest of the consumer. The problem is, just the opposite is happening.
The Consumer Financial Protection Bureau is now proposing a new and improved way to eliminate the mortgage brokers. They are proposing to reduce our fees, all in the name of the consumer.
I have a challenge for the CFPB, contact any of my clients, as them if they feel, that they were over charged for the services … (1 comments)
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regulations: THE FED SETS GUIDELINES FOR REO RENTALS
- 04/09/12 11:20 PM
“The FED Sets Guidelines for REO Rentals”
Let me know if you have the same reaction as me. Is there any part of our lives that the FED is not involved? How we should act and how we should think. Regulators creating more regulations, this time on REO properties. Just Great!
I used to think how crazy the song “The House of the Rising Sun” by The Animals, was. I now wonder what house they had in mind? Not so crazy anymore!
The sooner we can get the government out of our lives the better and the sooner we get the … (7 comments)
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regulations: GUITHNER SAYS US BEHIND ON HOUSING REFORM
- 04/05/12 10:37 PM
“Guithner Says US Behind on Housing Reform”
OK, Mr Guithner, what would you propose that will not continue on the path of bankrupting this country, without creating more regulations, like Dodd-Frank and that will not continue the path toward more Socialism?
One more question, why have we not started doing this so called reform before now? Since you keep bring up Fannie and Freddie, why have these two entities not been included with any of the budgets in the past?
“Geithner: U.S. far behind on housing finance reform
(Reuters) – The United States is far behind … (3 comments)
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regulations: PROPOSED GOP BUDGET TO END GSE'S & DODD-FRANK
- 03/22/12 02:29 AM
“Proposed GOP Budget to End GSE’s & Dodd-Frank”
I don’t care what side of the isle you are on, or an Independent and if you are in business, the proposal is good news. It is a beginning to taking away the mountain pile of regulations that are in the way of all of us doing more business. The proposal may be the beginning of the end for Dodd-Frank, as we know it.
I started reading through the proposal, but based on the administration’s proposed budget, that was loaded with billions of more red ink, this is a welcome change from … (5 comments)
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regulations: DODD-FRANK CONTINUES TO COST THE TAX PAYERS
- 01/25/12 12:57 AM
“Dodd-Frank Continues to Cost the Tax Payers”
The over regulations that continue to impact so many small business owners is just amazing to me. The administration keeps talking about wanting to get more business owners to hire more people, unfortunately they don’t understand or could care less. Maybe the rhetoric, just sounds good.
The sooner they make a change to the existing administration and begin the process of repealing these regulations, the sooner we can get this country back to work.
CFPB, FTC Sign Agreement to Share, Clarify Powers
By: Ryan Schuette
The Consumer Financial … (6 comments)
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regulations: DELAY FOR DODD-FRANK
- 01/06/12 12:44 AM
“Delay for Dodd-Frank” Maybe if this gets delayed beyond the six months and we have a new President, additional help in Congress and especially the Senate, the bill gets repealed and we can finally stop this stupidity. This bill continues to cause more harm, probably why they are having difficulty creating the new rules and regulations. The bill continues to hurt employment and a desire by small businesses to hire. I can’t understand how the administrations continues to say jobs is priority one and at the same time, we live with Dodd-Frank and Obamacare, but not to much longer! … (3 comments)
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regulations: DODD-FRANK ANALYSES FEAR
- 11/14/11 12:30 AM
“Dodd-Frank Analyses Fear” The article below is about lawmakers that are asking financial regulator analyses. Besides being one of the worst bills ever passed, this bill needs to be repealed, sooner rather than later. The problem with the lawmakers asking for analyses, who are they asking? This is not like you asking the wolf in the hen house. They should be asking the individuals like me, who have to administer these stupid regulations and guidelines. All these regulations and guidelines cost our economy jobs and hurt the housing market. I can’t wait to hear what the “analyses” is … (1 comments)
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regulations: MORTGAGE REGULATIONS, GOOD NEWS AND BAD NEWS
- 11/11/11 02:07 AM
“Mortgage Regulations, Good News and Bad News”
The article below addresses some of the changes going forward, some better, some not so much. It never ceases to amaze me, that the current administration, much of the Congress and Senate and all related agencies don’t understand how much of regulations have stymied our economy.
Let me relate how much impact over regulations have hurt my mortgage business. I am fortunate to have a large mortgage practice, but I turn away 30 out of every 100 individuals and families that I can’t help, because of over regulations. Just think about 30% … (3 comments)
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regulations: WHEN THE HELL IS THE FED GOING TO FIGURE OUT, THEY ARE PART OF THE PROBLEM
- 11/08/11 12:58 AM
“When the Hell is the Fed Going to Figure Out, They are Part of the Problem”
In an attempt for Fannie Mae and Freddie Mac to recoup some of the billions they have lost, which all Americans are paying for, by the way. They continue to pour gasoline on this fire.
They have instituted more stringent rules and guidelines that make it more difficult for potential homeowners to get a mortgage. On top of these rules and regulations, they have increased fees. With these increased fees, comes higher interest rates. All of these steps, have caused less people to be … (0 comments)
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regulations: OVER REGUALTIONS ONE OF THE MAJOR CAUSES OF ECONOMIC PROBLEMS IN AMERICA
- 11/03/11 01:39 AM
“Over Regulations One of the Major Causes of Economic Problems in America”
There is no one in the real estate or mortgage business, that won’t understand the “Telling it Like it is”, rant by Mike Kelly. Yes, I’m only bring up the real estate and mortgage business, because I deal with the regulation issues every minute of every day, but if you are in business, no matter what business, you fight regulation battles every day.
In my mortgage practice, prior to all these ridiculous new rules, regulations and guidelines. It used to take 2-3 weeks to get a mortgage … (3 comments)
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regulations: MORE DODD-FRANK
- 10/21/11 02:26 AM
“More Dodd-Frank” It is sickening to keep hearing about layers of Federal Regulations that keep showing up as a result of the Dodd-Frank bill. One thing for sure, each time new regulations show up, you and I are paying for it. Protection like this we don’t need. Once a new administration is in place and there are new faces in the Senate and Congress, this should be put on the agenda to be repealed. Fed Green-Lights Final Rule for Bankruptcy Plans By: Ryan Schuette The Federal Reserve presented the banking industry with a rule Monday that will require … (4 comments)
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“Sometimes the regulations just SUCK”
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