Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Democratic agenda supports Dodd-Frank

Notify me of new replies via email
Mortgage Professional America | 01 Aug 2016, 10:44 AM Agree 0
The Democratic Party made it very clear in its party platform how it intends to treat the controversial regulations
  • | | 01 Aug 2016, 12:02 PM Agree 0
    They will never repeal Dodd-Frank.
  • | | 01 Aug 2016, 12:40 PM Agree 1
    ALL the more reason to vote Republican! Repeal Dodd Frank!
  • Bill | | 01 Aug 2016, 01:48 PM Agree 1
    A vote for the hildabeast is a vote for less take home pay (higher taxes) by the people who make this country work. Want a pay cut, vote for the hildabeast.
  • | | 01 Aug 2016, 02:07 PM Agree 0
    I don't believe Dodd Frank is making it hard for builders to develop affordable homes at least in NC. I appreciate the regulations in place as it appears we don't have anymore poor lending (which is the people's money) being handed out nilly willy to just any joe with a contractors license and no business plan. Recipe for disaster which we are still cleaning up from recession caused by careless and lax banking. My appraisal life is easier as well not dealing with constant corruption around me and losing business trying to keep my work ethical.
  • mer | | 01 Aug 2016, 04:51 PM Agree 1
    We need to repeal Dodd Frank......................The consumer ultimately pays!
    Another reason to NOT vote Democrat!
  • Dennis | | 01 Aug 2016, 06:57 PM Agree 0
    (Insert secular deity name here) bless Dodd-Frank. And QM. And TRID. And no more front-points/back-points, both. No more sticking A/B borrowers in subprime when they could qualify for better.

    In my 30 years as a mortgage broker Federal licensing and compliance/re-regulation was long overdue. 2 many of our colleagues were vastly more interested in their commissions than in what was best for the borrower. Dodd-Frank takes a few feathers out of an already overstuffed mattress.

    As with the Affordable Care Act (patient protection), Dodd-Frank (financial consumer protection) is an anti-Reagan social program: first and foremost about remedying wealth inequality societally, and then removing some unearned entrepreneurial filthy lucre at the transaction level.

    Those of you reactionaries who think they dislike D-F should get down on your bellies and be grateful that industry is being reformed and no longer carries a 100% red badge of shame.
  • sbharkness | | 11 Aug 2016, 03:10 PM Agree 1
    God help us if the Democrat's win the Presidency. Perhaps those who support Dodd's-Franks should speak to some of my clients who are in tears because they cannot understand WHY with their good credit, stable work history and doing everything right they are made to feel like criminals for doing nothing more than applying for a mortgage? The very people Dodd's-Franks and the Consumer Finance Protection Agency is supposed to help are being CRUSHED through this over regulation. The wife of a couple who is buying their first home was in tears last night asking why they are always being asked to provide more, more, more documentation. She stated, "we are thinking of canceling this mortgage because the stress is just not worth it!" We will rent the rest of our lives. I hear this far to often these days from qualified applicants. Maybe Hillary should listen...of wait...I forgot whom we were speaking about.
  • sbharkness | | 11 Aug 2016, 03:26 PM Agree 0
    Dennis....are you for real? I would bet my bottom dollar you earn your living at one of these places that is choking the entrepreneurial spirit to death in this country. You do understand that owning a real estate office or a mortgage office is a business don't you? Are you saying that businesses should not be allowed to make money? That's what I am hearing? As far as this crap about forcing people that could of qualified for prime mortgages into subprime let me tell you in 23 years plus of working in this business I personally have not seen or heard of one instance of this! I have heard Senator Elizabeth Warren, and Maxine Waters, spout all kinds of garbage, but I have not seen it, nor have my many mortgage officer friends. There was just NO INCENTIVE to do this. True, at that time we were paid rebate pricing but it was the same rebate pricing whether the mortgage was prime or subprime so this garbage about slamming prime borrowers into subprime products make NO SENSE, as in dollars & cents. Since we live and die by referrals from our past clients....why would we do this? Maybe, you should try to earn a living where you are paid only if you deliver the goods? If you are unable to provide the service you may work months for free. Do you have the stomach for that? Well, that's what it is like working in this business. Then having to contend with people such as yourselves that think those of us in business don't deserve to make enough to pay our employee's to feed their families. Your a PRIME example of what is wrong with America.
Post a reply