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Hillary’s mortgage reform plan…

Tuesday, January 29th, 2008 | Link | Spread The Word!

I am going to keep this post very, very short and simple. I can only write about Hillary for about 30 seconds before I start getting political and this is not the right forum.

So with that said, I would like you all to take a look at a very intriguing blog post I just read over on the Blown Mortgage blog. Take a look, what do you think?

Pass the Beans!

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  1. I think Hillary is not the only offender. Industry regulations almost always help the large players. The only exception is a true monopoly situation. Think about all the safety and environmental regulations in the car industry, as vital as they are, they exponentially raise the barrier to entry for any would-be car maker. Mortgage will be no different and the average broker will need to use their size and agility to maintain innovation advantages over the large, and lazy lenders.

  2. I find it funny that Hillary puts this mess upon the shoulders of the Brokers aimed at the sub-prime market. The bad loans were written and approved by underwriters of big banks as well. Loan Officers everywhere were selling them because of the rebates and the points.

    The option arms, hybrids, and interest only arms were being sold based on the benefit of having a low monthly mortgage without full disclosure of how the loan really works. There is nothing wrong with an option arm or hybrid or I/O loan if used appropriately and completely explained.

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