More Mortgage Regulations Forthcoming?
More mortgage regulations going to affect banking?
It looks as though there are going to be even more mortgage and refinance regulations surrounding the new banking laws coming up. It also looks as thought our dreaded Federal Reserve is going to have even more say over what we can and can’t do as a nation, and in the mortgage industry. As if there haven’t already been enough regulations in our “new” economy. Mortgage and banking executives are crying out that it will destroy their busienss, and although it may not destroy it, it will definitely hinder them from making good profits.
In a way, it is a shame, becuase free markets can be a great thing…when used with much caution. You see, it was NOT a true free market when mortgage refinance loans were being given out to just anybody, at breakneck speed. That was encouraged by the Fed increasing the money supply so rapidly, along with encouraging the banks to make mortgage products available to almost anyone with a pulse!
If you ask me, this whole mortgage crisis was orchestrated. I don’t want to sound like a conspiracy theorist…but you get my point hopefully 
Since the refinance market has dried up and rates are much higher now, many mortgage companies that were teetering on bankruptcy are now finally out of business.
the future only hold increased regulatory
practices and much higher mortgage refinance interest rates. Just get ready for it to happen. We are preparing for an economy, many believe, that resembles th 1970’s: higher interest rates and much higher inflation, which is burning out of control.
Get ready for higher mortgage interest rates for purchase and refinance
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