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Excerpt from the article below:“As a result of Title XIV of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau, another agency to complicate matters, issued a number of mortgage-related rules that are not actually voted on by Congress. They will impose far more paperwork and raise the cost of mortgages while the Dodd-Frank portion to actually reform bank trading was vacated. So we now have a new agency to comply with to get a mortgage as of August 1st, 2015 and this should help to cap the real estate rally for the average American sending prices back down.”
Disclaimer: I have no way to bleep out some occasional bad language in a linked article. Sometimes even the finest of financial researchers blow a fuse in frustration at government idiocy.
http://www.theburningplatform.com/2015/06/17/real-estate-mortgages-expected-to-become-a-nightmare/
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