Bye bye Dodd Frank!
You are awesome. Thanks for cutting out the B.S. and clarifying the issues.
It’s amazing how lefties like Liz Warren believes the CFPB/Dodd-Frank ‘protects’ consumers and prevents the formation of banks that are ‘too big to fail’, when in fact just opposite is the case. You would be hard pressed to name one instance where a consumer was helped but a record number of small, community banks (and small mortgage companies) have closed their doors because because of the onerous costs of compliance from Dodd-Frank. Stupid is as stupid does.
Love it. Great info and a great spin on the transfer
Guys, if we lose Dodd Frank, would that remove LO Compensation laws that have made it very hard to compete when we need to go down and not force companies to pay the exact same commission on every single loan that we all KNOW do not make the same money. I also don’t want to go back to the days where LO’s took advantage of people when they could. What are your thoughts on this? I would like to go back to the day where an LO could negotiate their commission structure based on a percentage of revenue with their company… 50%, 60%, 70%, etc.
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This “repeal” will probably only repeal the consumer protection parts of Dodd-Frank & leave in place the parts that screw appraisers.
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