注册 登录  
 加关注
   显示下一条  |  关闭
温馨提示!由于新浪微博认证机制调整,您的新浪微博帐号绑定已过期,请重新绑定!立即重新绑定新浪微博》  |  关闭

boots1234的博客

 
 
 

日志

 
 

No government regulation for them  

2012-04-09 08:22:20|  分类: 默认分类 |  标签: |举报 |字号 订阅

  下载LOFTER 我的照片书  |
Financial Reform is just not quite what it seems. In the past year, Mortgage brokers have a host of new government imposed regulations thrust upon them. The creation of the SAFE Act requires states to license mortgage brokers. Besides about $1000 in fees,Mac Hellokitty it requires loan officers to be fingerprinted for a background check, pass two tests, and requires that they submit their credit report to the states they are licensed in. The last few years in this industry has been tough for most. Can you think of any other profession that the government can basically refuse a license to someone because they have late payments on their Visa account? Doctors? Lawyers? Politicians? Licensing is a great idea. Education requirements are a great idea. Consistent regulations are needed in the financial industry and I think most will agree. The regulations unfortunately are not required by all. Large investors (banks) are exempt. Loan officers at the big banks are not required to be licensed, not required to meet education levels, not required to submit their credit reports,Wonder Woman and not required to go through a background check. Wells Fargo, Chase, and Bank of America have all been under or are currently under investigation for various charges of mortgage fraud. No government regulation for them. On April 1st, 2011, new government regulations are going to impose a set amount of compensation a mortgage broker can make on a mortgage. The way the law is written, it forces the mortgage broker to pay loan officers either hourly or salary. The government is going to limit the profit that can be made by the broker, increasing the amount that the bank makes.Mac Makeup Eyeshadow This unprecedented regulation is going to absolutely eliminate any competition in the mortgage industry. Everyone will pay the same. As a consumer, this will add tens of thousands of dollars to the cost of your mortgage. There are approximately 250, 000 to 300. 000 jobs at risk by this law that is suppose to protect us. People whose careers that have spanned ten or twenty years are going to be out on the street or added to the unemployment rolls. Regulation Z is not designed to encourage competition resulting in lower costs and protection for consumers, it is designed to eliminate competition for the large banks. Your industry could be next. RT R Smith, Kai Chase in Her Black Apron.
  评论这张
 
阅读(55)| 评论(0)
推荐

历史上的今天

评论

<#--最新日志,群博日志--> <#--推荐日志--> <#--引用记录--> <#--博主推荐--> <#--随机阅读--> <#--首页推荐--> <#--历史上的今天--> <#--被推荐日志--> <#--上一篇,下一篇--> <#-- 热度 --> <#-- 网易新闻广告 --> <#--右边模块结构--> <#--评论模块结构--> <#--引用模块结构--> <#--博主发起的投票-->
 
 
 
 
 
 
 
 
 
 
 
 
 
 

页脚

网易公司版权所有 ©1997-2017