All Posts Tagged With: "reform"
Will “safe” QRM mortgages raise loan rates?
In an important step forward, the Consumer Financial Protection Bureau finally has a website — and a big issue to confront. The question is fairly straight-forward: What’s a safe mortgage? There must soon be an official definition to comply with Wall Street reform measures passed last summer. The Wall Street Reform Act tells us that [...]
8Feb2011 | Peter G. Miller | 0 comments | Continued
Despite Wall Street reform mortgage banker profits surge
Despite worries that the Wall Street reform legislation passed last summer would crimp earnings, the Mortgage bankers Association is reporting that profits per loan soared in the third quarter. “Independent mortgage banks and subsidiaries made an average profit of $1,423 on each loan they originated in the third quarter of 2010, up from $917 per [...]
15Dec2010 | Peter G. Miller | 0 comments | Continued
Federal Rules Make Predatory Loans Legal & Lawful
With all the yelling and screaming in Washington regarding financial reform the fact remains that predatory lending remains perfectly legal and will be perfectly legal once a financial reform package is passed. “The Wall Street reform bill in Congress represents the strongest consumer financial protections in history,” says President Obama. “You’ll be empowered with the [...]
19May2010 | Peter G. Miller | 0 comments | Continued
Mortgage Reform — Getting Back To Basics
Given the huge profits on Wall Street, we seem to have quickly forgotten that financial reform is necessary if we’re to prevent or less the next financial meltdown. Sen. Ted Kaufman (D-DE) is now proposing systemic financial reform. One part of that reform — a big part — would clearly involve changes in the way [...]
12Mar2010 | Peter G. Miller | 0 comments | Continued
Obama Regulatory Reform: Right Idea — Not Far Enough
The President’s new effort at regulatory reform ought to be applauded, at least for the reason that we once-again have a president who believes that regulation is a legitimate government activity. That said, the President’s 89-page regulatory reform proposal falls short because it does address two issues: Getting regulators to regulate and creating a fiduciary [...]
18Jun2009 | Peter G. Miller | 1 comment | Continued
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