I need to rant before I go… Dood-Frank, the two biggest morons and crooked politicians on the planet, assisted heavily in the housing crisis and are doing it again even though they’re gone. Empowered by the Obama administration and at the time Nancy “I’ve got the IQ of the room temp” Pelosi and Harry “I’m super creepy” Reid, they passed the Dood-Frank Bill which, along with the Federal Reserve and the CFPB, set out to help the consumer and correct the wrongs they blamed on Bush, that they created. (As a side, check out the pictures below and tell me he Ol’ Harry doesn’t remind you just a tad of the old vampire in Underworld.) This outrageous lie, was for a moment, laughable until I discovered just how many millions of voters believe only what their party tells them to believe. Bottom line, these acts and rules were widely supported by the top banks and has worked to eliminate competition as designed. The result? Increased fees and rates for those they claimed they wanted to help. Worse, those who wrote the rules left the CFPB and have opened up their own banking platform to buy mortgages with the higher rates they’re now forcing the average buyer to pay. These people are sick, sick, sick. And, they’re supported by the bleeding heart Liberals and Democrats who absolutely REFUSE to listen to any facts or logic on this matter. According to a report from Bankrate, the average closing cost across the United States rose 6% over the year to $2,402. Origination fees increased 8% to $1,730--accounting for the bulk of the increase in closing costs--while third-party fees rose 1% to $672. How’s that Democrat led protection working out so far? Don’t shoot the messenger. I’m a conservative mortgage banker with a heart and become angered when I witness the machinations and plotting going on behind the scenes to manipulate the masses. It just so happens it has been 100% Democrat initiated rules and regulations that have hurt the average Joe since Obama took office and Pelosi and Reid were his cohorts in arms.
Posted on: Tue, 06 Aug 2013 15:22:33 +0000