Dodd-Frank is DEAD! God Bless America!

Mortgage and Lending with Level 4 Funding NMLS 1018071 AZMB 0923961

Dodd-Frank is DEAD!  God Bless America!


I just spend the past 12 hours in a Continuing Education class discussing the changes that are required for Dodd-Frank/CFPB regulations.  And let me tell you it's a massive, madness, unbelievable, un-holey nightmare.  We are going to have to hire a full time person just filling out forms so the government can track you even more. 

BUT maybe we won't. 


Word is now circulating in Washington that a top priority within Team Trump going forward is the swift and decisive dismantling of the disastrous and highly controversial Dodd-Frank Wall Street reform legislation that has resulted in record-breaking bank profits while decimating the small-business and private party loan environment that is doing yet further harm to an already weakened American Middle Class.


The Democrat-sponsored bill greatly favored the richest of the rich who could afford to wade through the monstrous layers of red tape, while crippling smaller banks and businesses who could not do so. The result was further consolidation of the banking industry, less competition, and ultimately, fewer choices to the consumer. Personally, I'm amazed that any small mortgage company is even still in business or making any money.


However, congressional

 leaders have already been put on notice that within days after Donald Trump is sworn in on January 20th, the new president expects Congress and the White House to move quickly to dismantle the Dodd-Frank boondoggle and bury it deep within the growing trash-bin that was once the Obama legacy.


So how bad is Dodd-Frank?


Let me put it in terms for a Realtor, if the Dodd-Frank rules were applied to a Realtor this is what it would be like in general terms.


1. If you did not get signatures and disclosures to your buyer or seller in a timely manner.  - YOU'RE FINED

2. If you had a typo on your contracts sales/listing - YOU'RE FINED

3. Total cost to seller for buyer/broker fees cannot ever exceed 3%.  That 1.5/1.5 for the split.

4. If the seller/buyer feels that they were treaded un-fairly you will have to give them back your commission and then - YOU'RE FINED.

5. If any buyer/seller complain to the CFPB you may be audited and will have to pay for the cost of the audit.

6. You will have to collect data on the national origin, sex, status, results, sales, status, time, discussion, and much more on everyone who you talk to about selling/listing a home.  Up to 138 different items to collect on everyone. Even if you don't list or sell them a home.


Recently I've realized that God is now answering my prayers. 


When you look at the Dodd-Frank measures, its frustrating that this piece of regulation ever came to being.  It's equally frustrating that there is no way that I can change the rules and fix the situation.  However, I do have an ace in my back pocket that can fix anything and lately this ace is fixing a-lot-of-things in the world.  All you have to do is ask.  Miracles and answers to prayers do happen and this is all we can do to fight the stupid corrupt people in charge.


Miracle 1 - Cubs win!

Miracle 2 - Cuba is going to become free!

Miracle 3 - Trump Wins!


... and soon to be....


Miracle 4 - Dodd-Frank is killed!


I do believe that God answers payers. So keep praying, because this all we can do. This massive, unbelievable, un-holey nightmare will end.


Dennis Dahlberg
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112
Phoenix AZ 85027


About the author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true.

Dennis has been married to his wonderful wife for 42 years an Arizona resident for the past 40 years. They have 2 beautiful daughters 5 amazing grandchildren.


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Matthew Westpfahl
Minneapolis, MN
First time home buyer specialist

I just got into the mortgage business just a couple months ago and I had to complete so many hours of training all because of Dodd-Frank. It feels as though I'm not aloud to say hi to anyone without making sure it's approved by Dodd-Frank, so this is great to hear!  

Nov 30, 2016 01:14 PM #1
Gary Smith

Dennis; You know that I think this is one of the best posts i have ever seen. Glad to have inspired you to greatness. Gary N Smith, your MLO instructor.

Jan 13, 2017 07:56 PM #2
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Should both Dodd Frank and environmental regulations ease, new home construction could finally expend to address inventory shortages that we have in SoCal since the recovery began. 

Feb 16, 2017 07:12 PM #3
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

I sure hope Cuba becomes free.  We'll see.  Dodd Frank can rot in h e double hockeysticks as far as I am concerned.  

Oct 27, 2017 09:23 AM #4
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Dennis Dahlberg

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