Appraisers, Consumer Resources, Regulators/Regulation, The Middle Man

Appraisers – Your Comments Are Important

The Consumer Financial Protection Bureau (CFPB) is requesting comments on the proposed amendment to the “Know Before You Owe” mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. 

Tell the CFPB it’s very important the appraisal fee be disclosed separately from any bank add-on fees such as an AMC fee.

Call to Action: You’re comments must be submitted by July 7th.

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Appraisers, Consumer Resources

Breaking Down the Zero Interest Fed Policies on Voice of Appraisal

“The American Dream is freedom; not a house”.
Sam Zell

Had the best time talking #housing  and #finance  with Phil, Missy, and Kevin on Monday. Our discussion about zero interest policies were right on time; today is FED day and twitter buzzes with anticipation.

The Glass-Steagall Banking Act of 1933 comprised 37 pages and provided for a safer, more effective use of bank assets, it regulated interbank control, and prevented undue diversion of funds into speculative operations (gambling). In just 37 pages, Glass-Steagall ended Wall Street’s wild and speculative gambles that caused the Great Depression; it kept America’s economy growing for almost 70 years.

In 1994, interstate banking was allowed; in 1999, Glass-Steagall was repealed. It took banks less than five years to destroy America’s economy and put the world economy in a tail spin. Dodd-Frank is 829 pages and tried to address the same issues as Glass-Steagall but has failed to provide solutions; in fact, it’s done just the opposite. In 1933, Congress understood the business of banking and making sound loans to grow the U.S. economy.

The Solution:  repeal GBL to end #TBTF ; restore the playing field on Main Street America. Reinstate Glass-Steagall.
#howtodoit   #fanniegate   #appraisers