By: Robert

Robert — Fri, 16 Nov 2007 17:15:02 +0000

This will hurt consumers massively. As usual, the idiots have no concept of the actula effects of their political grandstanding. I can’t tell you how many clients either need the YSP concept to get a mortgage and/or it’s simply smarter for them financially to do that. The ONLY way that this wont exacercbate the current mortgage/real estate morass is if they allow YSP, but require that it all be credited to the borrowers; this way they don’t eliminate the mortgage structuring options that are helpful to borrowers while not allowing unscrupulous brokers to rip them off. (by the way, not requiring lenders to abide by the same law is tantamount to saying “OK, all loan originators that still want to rip people off just have to make sure that they go work for a lender) what a bunch of morons we have creating policy in this country!

By: Peter G. Miller

Peter G. Miller — Thu, 08 Nov 2007 06:10:27 +0000

This is exactly right. Ethical lenders and loan officers — and there are many — would be helped enormously should the House bill or something like it pass.

By: fha loans

fha loans — Thu, 08 Nov 2007 02:46:51 +0000

hopefully the new law is going to help brokers as well

Comments on: House Committee Passes Massive Mortgage Reform Bill

By: Robert

By: Peter G. Miller

By: fha loans