The
mortgage
industry
and
the
consumers
that
it services
are
under
siege
by a
legislature
intent
on
passing
a
Financial
Regulation
Bill
that
will
severely
restrict
credit
to
the
consumer
and
will
greatly
increase
costs
to
obtain
financing.
Prior
actions
by
legislators
and
regulators
demonstrate
a
fundamental
misunderstanding
of
how
the
mortgage
industry
works
and
with
no
regard
for
how
their
actions
will
severely
hurt
the
consumer.
The
Dodd/Frank
Bill
is
the
same
old
story
of
government
not
dealing
with
reality
while
overreacting,
over
regulating
and
overreaching
into
our
lives.
The
bill
discriminates
against
small
lenders
and
brokers
by
allowing
Federally
chartered
(Big
)
banks
not
to
disclose
their
fees
as
small
lenders
and
brokers
are
required
to
do.
These
very
same
banks
that
caused
the
credit
crisis
are
exempt
from
educating,
testing
and
licensing
the
loan
originators
they
employ.
-
The Bill does nothing with regards to the portability of the appraisal for which you, the consumer pay’s for. This means, good luck on getting the appraisal you paid for to be used with another lender for the purpose of obtaining financing.
In
short
this
bill
eliminates
competition
within
the
industry
which
is
not
good
for
the
consumer.
This
bill
effects
YOU,
The
Consumer.
You
must
to
get
involved.
Do
nothing
and
you
will
be
left
with
a
monopoly
of
state
owned
banking
entities
with
limited
types
of
loans
and
fixed
pricing.
The
competition
will
be
gone
and
you
will
have
no
choice
when
it
comes
to
shopping
the
best
rates
and
terms
for
home
financing.
We
have
listed
talking
points
on
the
Bill
below.
Review
it
and
call
or
write
your
Senators
and
Congressman.
Doing
nothing
will
only
guarantee
that
you
will
loose
your
ability
to
choose
where
you
get
your
next
mortgage
from
and
that
it
will
absolutely
cost
you
a
great
deal
more.
Talking
Points
|
