We are not going to let the government walk all over us any longer!
As a licensed mortgage broker and I'm getting sick and tired of what is happening in the industry. Foreclosures are running wild and mortgage modification specialists are making claims that their wallets can't back up. It's time to see some regulation in loan modification world, much like CA Bill CA 4CA where the people that claim to be pros are regulated to a certain extent. Licensing should be required, training should be required and accountability ought to be required as well.
On the other hand you have the Federal government making it harder and harder for good people to get their homes refinanced into the lower interest rates that are available today via an egregious appraisal ordering system and now the federal government is trying to pass a bill whereby there would be no Yield Spread Premium in which to pay mortgage brokers.
This isn't all about how a mortgage broker can up his fees, it's about eliminating competition for the banks and thus raising the end cost to the consumer. It's about eliminating a method where a consumer can get some of their closing costs paid for in the loan process, it's about eliminating a way for the consumer to be able to pay for the services of a mortgage broker.
In my opinion, it's about damn time we stood up to the Federal Government and express our constitutional rights to say:
We're mad as hell and we're not going to take it anymore!
God has blessed me and I am more than willing to provide the financing to get the word out. The money for this website is mine, the money to pay for hosting is mine and the money to be spent to get our message to the blinded politicians will be mine. Since our representatives with NAMB are not stepping up to the plate, it's high time that we did it ourselves. If we don't do something for ourselves, we are going to be looking at some very bleak times in the not too distant future and I, for on, have no interest in that.
The knuckleheads in Washington D.C. got us on The Home Valuation Code of Conduct ("HVCC"), let's stop them from continuing their unreasonable legislation with YSP. I say we shout from the rooftops that what they are doing is bad for America and hurts consumers; I say we let them all know exactly how that affects the consumers in a bad way; I say we, the people, take back the power from what is increasingly becoming a government that is misssing the point and missing it wide and far.
If we, the knowing, do not step up to the plate, many more will lose the opportunity to experience the American dream of home ownership. It's tantamount that we do the right thing on behalf of the consumer and help them rescue their homes from the evils of bad financing, poor legislation, politicians wearing blinders, greedy banks and those that are backing them.
If we band together and make our voice known, the powers that be will hear us and consider our thoughts. If we stand idly by, literally millions of people will lose opprtunity to get the best possible financing and many will not be able to get financing at all for a home.
Thanks to Reps. Dan Blue and Walter ChurchReps. Dan Blue and Walter Church, North Carolina has eliminated Yield Spread Premiums cutting choices for the consumer by sponsoring House Bill 2188. Thanks to Governor Mike Easley, it was signed into law. Where were the mortgage brokers in NC when this was happening? Where was the lobbying groups for the mortgage brokers in NC when this was in discussion?
Let's stop this before it becomes a national emergency because when you cross all the T's and dot all the I's, you;ll see how much this affects the economy in a bad way.