FEDS LOOKING INTO NEW OVERSIGHT AGENCY FOR REAL ESTATE
& MORTGAGES IN EVERGREEN COLORADO REAL ESTATE
Do we really need another government agency, with more bureaucrats looking down our necks? Government can’t run the agencies they already have efficiently, what makes them think they can run another one. All it does is grow the government larger and make the private sector smaller.
This legislation is to cut down on fraud and abuse caused by the real estate and mortgage industries. It is meant to protect the consumer. The agency will affect both local mortgage brokers and big banks nationwide, by enforcing and overseeing mortgage products being offered. It will also oversee RESPA (Real Estate Settlement Procedures Act), which impacts, title companies, real estate brokers, mortgage brokers and more.
Barney Frank has legislation moving through the House and hopes to bring it to the floor sometime in September. This is what we need, more regulations. They were the cause of Fannie and Freddie’s failure. When brought to their attention that Fannie and Freddie were having problems, and something needed to be done, maybe some sort of regulation, they brushed it off and said there were no problems, Fannie and Freddie were fine. Then when Fannie and Freddie lost money, they claimed innocence. Now, this same group of people wants to start a new agency with more rules and regulations. Am I missing something?
I do believe that there should be some kind of rules and regulations, but to put these people in charge is a laugh. We need businessmen, people who know how to run a business, leaders, not more government bureaucrats who have never run anything in their lives.
If you are looking to purchase a home then contact Mark English Real Estate, call us, email us, visit us on the web: www.evergreencoloradoliving.com, sign up for our FREE Incentive Package too. Get pre-approved for a loan go to www.aloan2own.com and be ready when you find the home you want.
