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Rainmaker
454,036
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Actually the mortgage crisis originated from the Clinton administration and the pressure to promote affordable housing. Dodd - Frank was the over regulation result of that, w/ the always unintended consequences of the feel good legislation. Looks like things are heading in the right direction.

May 22, 2018 08:06 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Great news. That law was burdensome and over the top. Congress has no business passes policies they know nothing about.

May 22, 2018 06:49 PM
Ambassador
2,570,787
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Unfortunately, it stops short of repealing the entire accursed Act. 

  President Trump will sign it this week, sources say.

May 22, 2018 05:00 PM
Rainmaker
5,571,886
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

let's hope it's not the first step back to the loosey-goosey days.... the no money down king is in the white house....  although, no doc programs would be a great help to the self employed....

May 22, 2018 04:32 PM
Ambassador
4,257,353
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

I think it's great news and I don't think it's going to give complete 'freedom' again. I am confident that the president will sign.

May 22, 2018 09:26 PM
Rainmaker
529,295
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Only time will tell ... I am optimistic.

May 22, 2018 07:07 PM
Rainmaker
4,116,781
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

First, I wished it had been totally repealed. But even this rollback affects only a small portion of banks. That being said, any rollback of this idiotic law is good in my book. Everytime a client complains to me about something they have to do as a result of Dodd-Frank... I suggest to them they send a note of thanks to Messrs. Dodd and Frank.

May 23, 2018 04:29 AM
Rainmaker
758,476
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Dodd Frank did more to crush the small banks and make the big banks bigger with layers of regulations small banks could not keep up with. Many small banks were bought up by the big banks.  CFPA with the regulations  like TRID and some of the ridiculous things they did to protect the consumer only cost the consumer more money and did nothing to protect them. Appraisal cost rose because of the third party fees so consumer paid more appraiser made less but had more legalities and now we are finding an appraisal shortage because they are tired of dealing with it.  it is just a big bureaucratic red tape mess made up by people who have no clue what they are doing...  there are many more examples of how harmful Dodd Frank and CPFA... too many to name them all... 

May 22, 2018 11:57 PM
Rainer
86,464
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

Considering who's in the White House and how he ran his real estate "empire" I wouldn't be surprised to start seeing, "pick-a-payment" plans, Negative Amortization, "fog a mirror loans" but on a more disturbing level the big picture could be dramatically altered. Hey, the crooks who brought us the big short never got prosecuted, were bailed out and are still in business. 

 

May 22, 2018 06:29 PM
Rainmaker
1,153,550
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Cheers to smaller banks ($250B).

May 22, 2018 06:03 PM
Rainmaker
6,606,431
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

To little.

May 22, 2018 04:42 PM
Rainmaker
5,586,557
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Caroline,

I need to read your link and be better informed.  A

May 22, 2018 04:39 PM
Rainer
317,600
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

here are the points I see summarized by the MBA

  •  loan officers have 120 days transitional authority to originate when moving  to a non-bank (or across state lines)
  • HVCRE rule, clarifying which acquisition, development or construction (ADC) loans are subject to a higher HVCRE risk weight, and aligns the rule with reasonable and responsible ADC lending practices.
  • Reforms to the VA Interest Rate Reduction Refinance Loan program to reduce excessively fast prepays which raised FHA/VA rates;
  •  “PACE”  or HERO or Clean energy loans subject to TILA consumer protections; (big fraud in this arena)
  • certain small lenders from HMDA (500 loans per year) less restrictions
  •  eliminate CD re-disclosure and 3 days wait time when rates go down
May 23, 2018 12:17 PM
Rainmaker
3,331,180
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I think it is a good to start to repeal the over regulation which was their answer to a free for all. 

May 23, 2018 05:11 AM
Rainmaker
4,209,382
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The only benefit of Dodd-Frank was Frank retired but at our expense. His contribution a bad law and his hand in our pocket! Sign the rollback! Can we get his retiremnet benfits back?

May 23, 2018 05:03 AM
Ambassador
5,408,079
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

He would be more likely to sign it if it opened things up for all the big donors.

May 22, 2018 08:16 PM
Rainmaker
1,899,324
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

It's a step in the right direction. I'm glad both sides can work together for the betterment of the people.

May 22, 2018 06:28 PM
Rainer
140,360
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

so long sucka!

May 22, 2018 05:41 PM
Rainmaker
398,779
PropertyMinder (AccelerAgent)
PropertyMinder, Inc. - San Jose, CA
Modern Tools for the Modern Agent

Not sure... *investigates further* - Tim

May 22, 2018 04:26 PM
Rainmaker
4,099,156
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hmm...more interesting developments. 

May 22, 2018 04:25 PM
Rainmaker
821,922
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Bad move. Tighten your seatbelts.

May 23, 2018 06:52 AM
Rainer
48,117
Cynthia Smitherman
Emage` Fine Properties, LLC - Chandler, AZ
DESIGNATED BROKER, ABR, GRI, REALTOR REALTIST

Hmm, I thought that was put in place to help protect the consumer from get rich quick predators.  Grab your hat, it's going to be a bumpy ride.

May 23, 2018 06:39 AM
Rainmaker
1,722,955
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Some things were bad, some were good. Most things did not help the process for the consumers.

May 23, 2018 05:00 AM
Rainmaker
3,616,999
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

It's about time

May 23, 2018 03:07 AM
Ambassador
4,579,275
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Not sure I can provide an intelligent response. Need to know more and think on it.

May 22, 2018 08:53 PM
Rainer
482,447
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

I'm not sure of it overall, but it seems like a step in the right direction.
Just my 2 cents...
Bruce

 

May 22, 2018 07:26 PM
Rainmaker
1,387,173
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Less regulation is always a good thing!

May 23, 2018 01:13 PM
Rainmaker
910,796
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

A positive development. I expect that the President will sign the bill.

May 23, 2018 07:48 AM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Debe Maxwell, CRS nailed this one!

May 23, 2018 07:02 AM
Rainmaker
4,799,491
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Time will tell.  But, I fear we are getting dangerously close to repeating past mistakes.

May 23, 2018 04:59 AM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

I'm not sure what that is.. I tried clicking on the link, but it is not functional.

May 23, 2018 04:58 AM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

And the pendulum now swings the other way

May 23, 2018 04:34 AM
Rainmaker
3,985,865
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Sounds like a problem in the future a making

May 22, 2018 09:01 PM
Rainmaker
645,418
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Santa Clarita & Aliso Viejo

Our politicians are making sure that the rest of the world will hate our democracy.  One party overturns the others and vice versa.  Hate has taken over our political system.  

May 23, 2018 07:13 PM
Ambassador
971,771
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MT, NC, NJ, NV, OK, OR, PA, SC, TN, TX, UT, VA, WV - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Glad to see some relief but I don't expect it to change much in our industry.  Regulations and additional processes are one thing, but it's change and implementing the systems required for the changes that are the real pain points.

May 23, 2018 01:45 PM
Rainmaker
1,109,295
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I'm surprised that it took so long! Its implementation was flawed at the start.

May 23, 2018 10:51 AM
Ambassador
3,055,932
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I need to read up on this.  As others have suggested, it will likely get signed this week. 

May 23, 2018 08:25 AM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Caroline Gerardo - should help many I am sure.

May 22, 2018 10:00 PM
Rainmaker
1,525,305
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I need to get better informed on this issue.

May 22, 2018 08:36 PM
Rainmaker
2,641,652
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

come on...

May 22, 2018 05:33 PM
Rainmaker
2,062,524
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

No idea.

Nov 24, 2018 01:30 PM
Rainmaker
1,596,596
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Never heard about it.

Nov 24, 2018 01:21 PM
Rainmaker
4,433,693
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No opinion.

May 23, 2018 06:07 AM
Rainmaker
4,013,334
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I am with Barbara Todaro on this one.

 

May 28, 2018 03:58 PM
Rainmaker
255,267
FAJARDO DELACRUZ
Century Homes Realty Group LLC. - Flushing, NY

The right track,but more needs to be done.

May 26, 2018 06:52 PM
Rainmaker
4,938,383
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I did read about this, and we shall see when he signs.

May 26, 2018 08:48 AM