Florida Mortgage Blog

I have been working in the mortgage business in one shape or form for about 18 years now. I saw it go from smooth and steady to wild and crazy to slow. Watching everything going on, in my opinion, I think our regulation is slowing down the market factor for a lot of people. I don’t appreciate what our regulatory leaders did for appraisers with the Home Valuation Code of Conduct and I don’t agree with what they did with respect to pricing and the Dodd - Frank Bill. We are entitled to all of the money that we earn and our segment of the economy is just as important as any other. Appraisers lost 1/3 of their income with the HVCC, how much will mortgage people be affected?

Mortgage people and Appraisers are not responsible for what happened in the mortgage meltdown, so maybe our government could stop treating them that way.

Yes, I am against my little corner of the Dodd Frank law. It has made pricing a loan much more difficult and I do not see any benefit to the customer. This legislation basically causes us to charge too little on a small loan and too much on a big loan. I cannot bend and give someone a break because I am penciled in at a certain percentage.

Also coincidentally, thanks to the Dodd-Frank Law, I am seeing banks starting to charge for debit fees and their answer is that it is due to the Dodd Frank Law. I suspect that other sections of this legislation have a lot to be desired as well.

I have never been one to believe that our elected officials should have any kind of tenure in office. Dodd and Frank were in office during the years of Alan Greenspan and free market economy and the celebration and were very much a part of it. Now they seem to have an over-reaching bill. In 2012 the topic of repealing this legislation is a hot topic; let’s see how it plays out.