New Bureaucracy Limits Home Buyers

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

They are at it again.  Earlier last year Congress took time away from its seemingly incessant squabbling to impose some new rules and regulations on the mortgage industry.  As if altering the way originators are paid and killing off endless forests by requiring an endless number of sighed disclosures for each and every "change of circumstance" on every federal loan wasn't enough, we now have the CFPB.  Yes the Consumer Financial Protection Bureau has been created to protect Americans with little down money from accessing the only kinds of loans which would allow them to experience the American dream.  I will expand on this in the coming days.

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Rainer
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Jackie Vaughan and Patrick Smith, Howard County,Maryland
The Jackie Vaughan Team - Columbia, MD
The Jackie Vaughan Team

This can only hurt our real estate markets further.  Less people will qualify for loans because of higher credit scores needed and larger down payments.  Just what we needed!

Jan 21, 2013 06:52 AM #1
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