First of all I'm registered as an independent. People ask if I consider myself more conservative or liberal to which I usually reply, "neither, I'm reasonable." I find toeing the party line to be a fruitless endeavor which leads me to the point of this blog. Often I talk to people that like to volunteer their political ideologies with me. It may be someone that was harmed during the crash (usually playing the victim without recognizing their own role in the mess) or someone that is unhappy with the current administration. Back to my other point, I understand that many were victimized by the crash while trying to do the right thing but for the most part nobody in the political world or media wants to recognized that we the people made some bad decisions all by ourselves. Anyway, back in my loss mitigation days I found it funny when someone that is a staunch conservative would be bashing the current President while applying for his Making Home Affordable plan. (Let's be real if it was really about making home affordable the NPV test wouldn't be involved but that's a different blog post). In my current role on the originations side of the mortgage business I find it funny when the staunch liberal complains about all the hoops they have to jump through to get a loan. Isn't more regulation what you wanted? The Consumer Financial Protection Bureau, which I've been writing about for a couple of weeks now, is the second largest government agency behind only the department of defense. It is also only about two years old. Additionally, it is self-funded by FINES. That's right, their very existence is dependent on the fining of financial institutions and real estate agencies that violate RESPA and other financial regulations. So needless to say this has those of us in our industry on edge and maybe we're being a little too cautious. I'd rather be over cautious then pay for the head of the CFPB's new Benz though. Of course the Dodd-Frank law which created this monster was a reaction (ok, maybe just maybe an over-reaction) to a total lack of financial regulation in the early part of the century, of course the result of a conservative administration. So next time your lender asks you for a document and your first thought is, "this is ridiculous" just remember you likely voted for it.
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