Republicans vs Democrats

01/12/2017
 
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Today we go over the Republican vs Democrat battle at hand with respect to the mortgage and real estate industry.

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Comments
  • Sorry, guys!! This is the biggest bunch of HOOEY I have heard lately. It appears to me, although, we have not been tickled with new regulations, the mortgage companies have not had such a difficult time adhering to the rules and regulations set down by the CFPB. Only the banks are complaining and could it be that they were the perpetrators of shady transactions. I have worked in both the bank and tne mortgage company environment and find the latter to be much more upfront and empathetic to the ordinary client. The banks are exempt from lots of regulations that we have to live by. If it had not been for the CFPB, Wells Fargo would have never owned up to that “mistake” they made. That is the one that we know about, what about the ones we don’t know about. Same song…second verse someone needs to be the watchdog over the banks.

    Teena Webster January 12, 2017 6:35 am Reply
  • The payouts to consumers on behalf of the CFPB are minimal in comparison to the funds actually collected. The actions are similar to the results of Mass Tort Attorney ads you see on TV all the time. (Suits are large, payouts small. Attorney’s make all the money.)

    Glenda Britz January 12, 2017 6:54 am Reply
  • Essentially the CFPB uses their power to extort money from likely guilty companies (low hanging fruit) in the name of their victims, the consumers. Then, then they use that money they receive to increase their budget and repeat the process while the victims receive next to nothing in compensation. The result is that the Government/CFPB continues to increase their power, influence and wealth. The businesses they target write-off those expenses as the “cost of doing business” and, once again, the consumer is used as a tool and receives little benefit from this egregious behavior. Do I have this right?

    Randy Luebke January 12, 2017 7:46 am Reply
  • Good or Bad ….The CFPB needs restructured…..I am in the middle ….I have had clients that need to get paperwork from a collection agency ….finance company …etc….To show they paid the bill …etc etc….In some cases the only way these people got the paperwork is by mentioning 4 letters….CFPB..otherwise they have been held hostage(for money) or told we wont send it to you…after they mention they will file a complaint with the CFPB ..they get transferred to a manager and the document is provided immediately …This is the flip side for the consumer to be able to hold these businesses accountable for releases of judgements (that are paid) ..proof collections are paid …etc ..etc..Consumers all have had or will have life changing events ..very few can overcome them without difficulties…so in this instance they have helped…..On the other end ..The regulation is way to in cumbersome you literally have to almost have a law degree to understand it and stay compliant…It needs to be fair on both sides ..not teetered one way or the other ..Their are many good real estate agents…brokers and bankers out their who genuinely care about their clients and try to do the right thing…so I believe we have to come to an agreeable middle on this that benefits all parties involved ….

    dennis January 12, 2017 8:33 am Reply

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