tag:blogger.com,1999:blog-8529580665294663953.post3269946497622497333..comments2023-10-27T04:26:57.609-07:00Comments on InvestorCentric: Do We Really Want Increased Government Oversight Of The Mortgage Industry?NuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-8529580665294663953.post-40225849291148557452008-04-02T11:42:00.000-07:002008-04-02T11:42:00.000-07:00Thanks for the comment, it is nice to get a mortga...Thanks for the comment, it is nice to get a mortgage brokers opinion on the subject. I guess I don't think requiring licenses for mortgage brokers is overall a bad thing, I mainly just don't like to see increased government involvement. This legislation certainly won’t help investors though, as they will have to chip in for the costs and it is mainly geared for people who don’t know what’s going on, and who are somewhat ignorant of the mortgage world. If it stops at the licensing piece, that's one thing, and ultimately it might be good. However, the government can at times get a little carried away and take things too far. Giving them this power has the potential to lead to additional changes down the road.<BR/><BR/>What I really don't want to see happen is as part of the financial oversight legislation for them to restrict banks on the type of loan programs they can offer. This is where I see the potential for trouble in the real estate market. I don't think this is currently part of the bill, however, many democrats are pushing for tighter restrictions, so who knows what will become of it when all is said and done.Eric Ameshttps://www.blogger.com/profile/01345721212538060888noreply@blogger.comtag:blogger.com,1999:blog-8529580665294663953.post-7172551313548877732008-04-02T09:30:00.000-07:002008-04-02T09:30:00.000-07:00I am a mortgage broker and to be honest I think it...I am a mortgage broker and to be honest I think it isnt all bad. As the plan is written it will level the oversight of all mortgage originators including the once exempt federally chartered bank originators. I am required to be licensed, educated, and pass background checks so dont you think its about time to seperate the good from the bad on a level playing field.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8529580665294663953.post-834125018693080122008-04-01T20:54:00.000-07:002008-04-01T20:54:00.000-07:00Maybe they will create something like the 'Accredi...Maybe they will create something like the 'Accredited Home Buyer' guideline similar to the accredited investor. We all know how well that hinders... a'hem sorry I mean ...helps us... Nothing like having government branches thinking for us.Anonymousnoreply@blogger.com