I’m have my office TV on C-SPAN hoping to catch HR 3915 being presented to the House Finance Committee. Apparently there have all ready been modifications made since I last posted about this bill.
Hat Tip to Ray Gallegos
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Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
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The only amendment that matters is the one that bars YSP. If that stays in the bill it spells the death blow of our industry. We must band together and do it now against this bill. We must band together and get our borrowers involved. It is as simple as that. Unlike the perception there are millions of satisfied borrowers that will act as our advocates against this bill. I hope every mortgage broker goes out and contacts their borrowers, because if they do this bill will be defeated. Here is how I saw it.
http://proprietornation.blogspot.com/2007/11/congress-vs-mortgage-brokers.html