Comments on: Reality Check – Are mortgage brokers the root cause of the housing crisis? http://jbermangroup.com/2010/07/reality-check-are-mortgage-brokers-the-root-cause-of-the-housing-crisis/ Serving Colorado homeowners since 1993. Thu, 17 Mar 2011 22:20:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Mortgage Brokers in Vancouver http://jbermangroup.com/2010/07/reality-check-are-mortgage-brokers-the-root-cause-of-the-housing-crisis/#comment-165 Mortgage Brokers in Vancouver Fri, 23 Jul 2010 08:01:20 +0000 http://jbermangroup.com/?p=13#comment-165 I think mortgage broker should not be blame about housing crisis. Mortgage broker help people to purchase a house. With country experiencing a house crisis, mortgage broker were also affected. I think mortgage broker should not be blame about housing crisis. Mortgage broker help people to purchase a house. With country experiencing a house crisis, mortgage broker were also affected.

]]> By: Bob A. http://jbermangroup.com/2010/07/reality-check-are-mortgage-brokers-the-root-cause-of-the-housing-crisis/#comment-162 Bob A. Wed, 14 Jul 2010 15:00:40 +0000 http://jbermangroup.com/?p=13#comment-162 Good comments...a couple other points...requests for existing law enforcement went unheeded by regulators(1996-2008), some of which are are still in their positions, or are embedded in the new system. Congress has totally politicized the issue and "to protect America", proceeded to create their solutions(2317pages of somethingness) without the findings of a special commission which was formed earlier to "determine causes and issue recommendations". Ask Sen. Isakson... An example of the audacity of the situation lies in the fact that mortgage brokers who are designated professionals and are licensed both nationally and locally, will not be able to order an appraisal for fears of tampering by others who are not designated or licensed, and who have not and do not disclose compensation/income. As Sen Dodd would say, "I got those mean mortgage brokers". Aren't there still ethics charges outstanding against him? Congressman Frank must have undue influence on his new Senator who is sounding very frustrated these days...like he wants to put this baby to sleep...Welcome new centers of power within a new multi-strata bureaucracy...then there is still Fannie and Freddie... While parts of this new Bill may have merit, underwriting should never be legislated, the appraisal and lending communities will continue to have issues with a valid valuation model, there is only one primary channel of distribution for mortgages, quotas for minorities and women are back, banks are still trading derivatives, and the industry as a whole is being set back a decade...Don't you love "progress"??? Good comments…a couple other points…requests for existing law enforcement went unheeded
by regulators(1996-2008), some of which are are still in their positions, or are embedded in the new system.

Congress has totally politicized the issue and “to protect America”, proceeded to create their solutions(2317pages of somethingness) without the findings of a special commission which was formed earlier to “determine causes and issue recommendations”. Ask Sen. Isakson…

An example of the audacity of the situation lies in the fact that mortgage brokers who are designated professionals and are licensed both nationally and locally, will not be able to order
an appraisal for fears of tampering by others who are not designated or licensed, and who have not and do not disclose compensation/income. As Sen Dodd would say, “I got those mean mortgage brokers”. Aren’t there still ethics charges outstanding against him?

Congressman Frank must have undue influence on his new Senator who is sounding very frustrated these days…like he wants to put this baby to sleep…Welcome new centers of power within a new multi-strata bureaucracy…then there is still Fannie and Freddie…

While parts of this new Bill may have merit, underwriting should never be legislated, the appraisal and lending communities will continue to have issues with a valid valuation model, there is only one primary channel of distribution for mortgages, quotas for minorities and women are back, banks are still trading derivatives, and the industry as a whole is being set back a decade…Don’t you love “progress”???

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