Real Estate Forums

San Diego Real Estate · 12-30-2007, 07:46 PM

Well as we all know the Federal Government has a pretty strong track record of making things worse once they get involved. It appears nothing is going to change as they are getting ready to make some more major changes to the Mortgage Industry in the near future.

For more info on the AP News Wire Regarding the Proposed Mortgage Industry Changes by the Feds <please click here

Bigtoe · 12-31-2007, 06:58 AM

More laws that they won't enforce.

San Diego Real Estate · 01-05-2008, 08:17 AM

Bigtoe,

I think you are going to be surprised this time! It appears the Feds are really getting ready to tighten down on the Mortgage Industry. Their appears to be some real tough regualtions on the horizon for the entire Mortgage Industry.

For more information on the Fed's plans to tighten regulations on the Mortgage Industry please <click here

Bigtoe · 01-07-2008, 05:32 AM

Laws are meaningless without enforcement. How are they going to enforce this. Without routine audits they won't know it's happening until 2006 repeats itself.

San Diego Real Estate · 01-07-2008, 07:21 AM

Big Toe,

Not sure what is happening in your area. But I can give you first hand knowledge that the banks in the San Diego, CA market have already started to tighten their policies considerably. However, I do see your point!

Bob Crain · 01-14-2008, 08:56 PM

I agree with Big Toe. This is a knee jerk response to an institutional problem involving lax underwriting guidelines... Specifically, Countrywide's Fast and Easy program and other limit doc "Bold Face Lie about your income" loans.

If the Federal Government wants to tighten up the mortgage industry then train their package reviewers to catch mortgage fraud...

How many landscapers or maids actually make $150,000?

doemnsion · 05-19-2008, 08:19 AM

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