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Warren vows to fight Trump ‘every step of the way’ on dismantling Dodd-Frank

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Mortgage Professional America | 14 Nov 2016, 10:02 AM Agree 0
Sen. Elizabeth Warren says that she’ll work with Trump to ‘increase the security of middle-class families,’ but that she’s ready for a fight to keep Dodd-Frank
  • Adios CFPB | | 14 Nov 2016, 11:10 AM Agree 0
    Warren can kick and scream like the child she is but it will fall upon deaf ears. Good riddance CFPB and thank you Mr. Trump.
  • Realtor | | 14 Nov 2016, 11:37 AM Agree 0
    Yeah, and build that wall too, and while you are at it, please pull out of NATO.
  • Midge | | 14 Nov 2016, 11:48 AM Agree 0
    Is Warren so blind or otherwise ignorant that she doesn't think HRC was in Wall Street's pocket? Mr. Trump, tear down that CFPB and get rid of this cumbersome law that does nothing to protect the consumer that it purports to protect.
  • gary heinecke | | 14 Nov 2016, 11:49 AM Agree 0
    The promise to dismantle the Dodd Frank was one that I actually campaigned for him for. Fact is the YSP still exists for any lender , the brokers got royally screwed and the consumer is still paying for this. Middle class protection my eye. YSP is still there for anyone with a warehouse but the cost to follow these inane rules is a burden the economy felt. Fraud is still fraud. Wells Fargo regardless of the CFPB committed fraud and those at the top got rewarded and denied knowledge.. You commit fraud you go to jail. As far as the CFPB appoint someone other than Cordray and have him or her answer to Congress and the President. The fines that are levied or negotiated are mostly put into the CFPB's pocket. The consumer gets squat or very little. The big banks have the advantage , took out their competitors and wholesalers and now there are higher costs to support this rhetoric, Anyone wonder why Feinstein's husband got the contract to liquidate all the Post Office's in the US??
    Anyone realize that Barney Frank owns an AMC . The sponsor of the bill. Tell Warren to take a chill pill. Maybe Juliani should look into Warren's perks?
  • | | 14 Nov 2016, 12:13 PM Agree 0
    Do borrower need counselor/counseling on mortgage they apply. NO.
  • | | 14 Nov 2016, 12:33 PM Agree 0
    Let's hope Warren gets canned and gone for a very long time how about forever. she knows nothing about the Banking Biz. She is one stupid lady.
  • Go Trump | | 14 Nov 2016, 01:01 PM Agree 0
    CFPB has to go President elect Trump. Who do they think they are telling people when they can borrow, how much they can borrow, how many times they can borrow. It's insane. The CFPB is a great example of government trying to control people's lives. Pocohontis actually thinks she has leverage
  • Mary Russell | | 14 Nov 2016, 02:13 PM Agree 0
    Thanks again Donald Trump -- It is time to rid ourselves and the consumers of all of this bureaucratic red tape. While you are at it, can you also do same for Ms. Warren? mer
  • SBHarkness | | 14 Nov 2016, 02:58 PM Agree 0
    Way to go Mr. President,

    Get rid of this Government over regulation from hell that has just strangled the all business to death. A perfect example is what it takes to even get a mortgage appraisal DONE in my state of Washington not to mention the costs for the so called "Rush fee" which is nothing but thinly disguised extortion. Back prior to HVCC an appraisal costs the borrower $425.00. In addition, if my appraiser didn't think he could bring the value in he would call me and tell me so he didn't have to go through with the whole thing and could charge them only $100.00 for work done to that point. By the way the name of his company was called 3-day appraisal service because I would have the appraisal in 3 days. Move forward in time to present date. A basis appraisal on a single family residence costs $625.00. This is because you have to pay the appraiser plus the appraisal management company. I order the appraisal online through the appraisal management companies website. In 3 to 5 days I get a confirmation they received my order and are looking for an appraiser to fill my order. Several weeks later I will get another email from the appraisal management company telling me that all appraisers are booked out at least 45 days but if I would like to pay a "RUSH FEE" of anywhere from an additional $500 to $1,000 they will see if they can find an appraisers that can accommodate before the expiration of the purchase and sales agreement. I AM NOT MAKING THIS UP AND WILL SHOW YOU THE CREDIT CARD RECEIPTS. This is a PRIME example of what happens ANYTIME Government gets involved and Senator Warren...for the good of America...please retire. You have served more terms i Congress than I can remember in my 55 years and the writers of the Constitution never intended Congress to be a full time carreer. Term Limits is something else I hope President elect Donald Trump can push through.
  • 17yearsinthebiz | | 14 Nov 2016, 03:44 PM Agree 0
    She is not qualified to make these statements and doesn't know what she is doing. As usual Obama promoted someone beyond their capabilities and had them pick and choose winners and losers in the marketplace. Elizabeth Warren is threat to the economy. If you can't do it then default to teaching about it because you couldn't make the cut without being on the socialist education payroll. She is not just simply ignorant about how things really work in the marketplace. She is in denial about how much she has harmed the average mortgage borrower. Why does an appraisal cost $700-$800 and takes over 3 weeks to get done. I tell you government intervention from Warren, Cuomo and Cordray. They destroyed the Appraisal Industry and call it triumph. Elizabeth Warren is one of the largest single threats to a good economic recovery.
  • Loan person | | 14 Nov 2016, 04:00 PM Agree 0
    I worked for Wells and I have my own brokerage co.. There are two sets of rules. One for banks and one for brokers. It was the big banks that defrauded the customer since they were the lender and created their underwriting guidelines, audited, and approved their wholesale mortgages. Yes we needed regulation for sure but banks and governments were well aware of this in advance so I hold them responsible. Wells mortgage officers don't even know what Dodd Frank is nor how to prepare a Trid document. No accountability for compliance. No continuing ed. No end of quarter audits. No fees. I used to hear of them making of their customers, so the majority don't even care about their customers, just so they should open bank accounts (products) and Loan officers meet their quotes (they call them HMC's ). Brokers have a place in this world and have originated more then 50% of applications, even with all the hardship they put on us and our customers. We also encourage price competition or they would have a monopoly already. Dodd Frank just gives us more expenses and paperwork but banks are exempt. I say banks should be equally over regulated and charged and their employees regulated, continuing educations, accountable, and charged as well for a true democracy.
  • Ben | | 15 Nov 2016, 03:23 PM Agree 0
    If Warren had done a better job designing the CFPB it would not need to be dismantled. It should have had 5 board members, not one dictator. It should not have been given unlimited rule making authority. It should have matched consumer protection with industry insight. When you go all Wild N Crazy like she did and completely stifle industries with over-regulation and paperwork with unintended consequences, it needs to be completely destroyed. When highly educated customers of mine with Engineer, Accounting and Law degrees can't understand the new Mortgage TRID regulations ( Lending Est. and Closing Disclosures ), you know there is a problem. Complete BS Ms. Warren. Wake up and smell the coffee.
  • Mortgage Broker | | 17 Nov 2016, 02:24 PM Agree 0
    Frank-Dodd Disaster has done absolutely nothing to help consumers. It has increased prices for a mortgage, made it more burdensome for mortgage mortgage applicants, and left millions out of the dream of home ownership. WE THE PEOPLE ARE EXCITING TO SEE CHANGES COMING!
  • Make America Great Again | | 17 Nov 2016, 02:32 PM Agree 0
    Dismantle Dodd Frank and overhaul the CFPB.
  • An Appraiser | | 18 Nov 2016, 06:06 PM Agree 0
    SB Harkness... Your appraiser was violating USPAP before the implementation of HVCC. You gave your appraiser a number to hit and if he couldn't hit it, here is 100 bucks for your time. Why do you think HVCC was started? He determined a value before the report was completed. Did he supply you with his limiting conditions for every report he could not get the value on? Do you realize how many appraisers lost their license for doing just what you described? Your appraisers in Washington are charging these prices. They know they can get it so that's what they quote. Call your local appraisers and see what they are quoting and turn times. The fees they are charging will not last when the market gets soft. There are only a few states with this issue. I can still get appraisals done in New Mexico, Arizona, California, Nevada, Utah, Maryland, Florida, etc.. within 5 business days and regular appraisal fees. If you don't like the price complain to your appraisers. It has nothing to do with Dodd-Frank; however, there are several areas within Dodd-Frank which need to be addressed.
  • Paul | | 09 Jan 2017, 12:58 PM Agree 0
    I am an appraiser and AMCs are the biggest shams I've ever seen.
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