In the push to “get the government off our back” and “let the free market do its job,” Washington eliminated virtually all regulations on energy companies, and later did the same thing on mortgage providers (and more specifically, those who buy and sell mortgages).
Energy deregulation led to Enron and skyrocketing consumer prices.
Mortgage deregulation led to the current meltdown in housing.
Which was a bigger failure?
I was just laid off from my mortgage-title company along with 25 other employees, it seems there are more layoffs coming, if anyone out there currently work or are connected with countrywide there is an other layoff coming in a few weeks. We got no warning, no severance and not even out vacation time. Just [...]
With the lenders turning down loans right and left, and the tax credit ending, what do you think the future holds for the mortgage industry?
I recently closed escrow on a new home mortgage, but because of the recent chages in the home mortgage industry, the broker cannot sell the loan to a traditional bank. They are basically stuck with the loan. Is there anything I should be concerned with? I recently closed escrow on a new home mortgage, but [...]
What is Obama doing to fix the mortgage crisis? I see we’re bailing out car manufactures and trying to get credit card companies to stop charging so much in fees- what about the mortgage crisis?
I am a mortgage loan originator and am setting up a marketing plan with some preferred customers. I am waiving my standard 1% origination fee and want to convince my prospects that I will not attempt to make that percent up in yeild spread. So I need some documentation that proves my usual 2% on [...]
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