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Search Results: “3915” (page 1 of 2)

We found 18 results for your search.

November 13, 2007

HR 3915: Why Federally-Chartered Banks Get The Pass

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

Big banks have a HUGE advantage over mortgage brokerage firms; they have the money. Federally-chartered banks also are regulated differently than mortgage brokers; they are overseen by the Office of Thrift Supervision, a successor regulator to the Federal Home Loan Bank Board. Federally-chartered banks also subscribe to FDIC insurance which imposes another layer of oversight […]

November 10, 2007

HR 3915: Open Letter to Senator Dodd from a Veteran Mortgage Originator

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Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

The Hon. Senator Christopher Dodd Chairman- US Senate Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building Washington, D.C. 20510 Dear Chairman Dodd: Soon, HR 3915 will be endorsed by the House of Representatives and most likely referred to the Senate. The committee you chair, will have an opportunity to read, discuss, […]

November 6, 2007

HR 3915: Anti-Consumer Bank Protection Act of 2007

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

HR 3915, the Anti-Consumer mortgage bill has passed the House Financial Services Committee. This was expected. The committee is chaired by the bill’s sponsor, Barney Frank. This bill seeks to destroy the consumer protections, guaranteed by free markets, through: a legislated oligopoly, a reduction is loan choices, and a contraction of loan pricing options, all […]

November 3, 2007

HR 3915: Exploring the Minds of the Enablers

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Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

HR 3915 is referred to as the Mortgage Reform and Anti-Predatory Lending Act of 2007. It was introduced by Congressman Barney Frank of Massachusetts. I explored some libertarian thought about the bill here. I spent the last few days, perusing supporting messages, to discover if I might be mistaken. This is what I found: The […]

October 28, 2007

HR 3915 Is Dangerous

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Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

HR 3915, The Mortgage Reform and Anti-Predatory Lending Act of 2007, was introduced by Barney Frank, (D-MA). Congressman Frank is also the Chairman of the House Committee on Financial Services. I outlined the key components of the bill with a link to the text here. The danger behind this bill is that it doesn’t regulate […]

October 25, 2007

HR 3915: Mortgage Reform and Anti-Predatory Lending Act of 2007

by

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

Congressman Banker…err…Barney Frank co-authored legislation to “reform” the mortgage business on Monday.  You can view the 66-page text here. Bullet Points of the bill include: 1- Prohibition of “yield spread premium” as compensation to originators. 2- Mandatory licensing of mortgage originators by a Federal registry or state regulator.  This Bill does direct the Office of […]

November 14, 2007

Irony Can Be So Ironic (Massachusetts Edition)

by

Mortgage Planner

Author website

Massachusetts was one of the first states to put anti-predatory lending laws on its books, ratifying in November 2004. The law includes provisions for borrower counseling, prepayment penalties, and financing of fees. Presumably, somebody thought the law had a positive impact on homeowners because, recently, Massachusetts Congressman Barney Frank authored HR 3915, The Mortgage Reform […]

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