I tried to find out how much is spent on enforcing just the Home Mortgage Disclosure Act (HMDA) and the Real Estate Settlement Procedures Act (RESPA), which entails an army of government lawyers and statisticians, but neither my Congressman or my Senators could come up with an answer and didn’t seem particularly concerned that no one knew.

My guess is that more money is spent by the lending industry itself in government mandated reporting and by the Feds in excessive monitoring and regulating than would be needed to fund every loan ever turned down by any lender for any reason whatever, including fraud and bad credit, let alone illegal discrimination.

Anyone know how to light a fire under Congress and make them come up with a figure?

 

Banking is banking, deposits, loans and checking. Separate fundamental banking from all the rest. The S&Ls were best for home mortgages. All the deregulation in banking, accounting etc. has been an utter diaster.

 

I am aware of the situation and the record of the foreclosure proceedings began in early November 2009.Wie many months, the property of the bank or the owner of “grace periods” would be before he begins to serve their papers, where? The real owner died in October 2008. The recipient of the house and the [...]

 
Please advise on career switch, banking to teaching.?

I currently work as a personal banker (mortgages, loans, investments etc.). I don’t mind my job, but I feel like I am an unnecessary middle-man. What I’m doing could be done more efficiently through an online channel. I have a bachelor of business admin degree from a good school which I completed last April. My [...]

 

I currently use a credit union and have my mortgage and a equity line of credit with another bank but am considering switching those loans to the credit union. I’m just not sure it is smart to “put all your eggs in one basket”. The interest rates would be lower with the credit union for [...]

 

I bought my first home (a little) on the basis of the pre-qualification letter on my income of the bank. The bank says that I can afford around 720K at home. So I bulb must not exceed a contract for my house in 2007 for 720K. Now I have trouble making my mortgage payments and [...]

 

I don’t understand? Why not try to help the process and make sure that any reforms that are implemented are meaningful and thoughtful? – The tension level in the debate on U.S. financial reform rose on Thursday as Democrats slapped back at a Republican leader’s comment about “punk staffers” and a pivotal vote neared in [...]

 

1. Paulson appears on Face the Nation and said: “Our banking system is secure and robust.” If the banking system was safe, everybody know (or at least they think). It is not necessary sagen.2 for it. Paulson says the list “is a very manageable situation.” In troubled banks, the reality is that there are 90 [...]

 

Is any particular lawmakers or committee in the U.S. Congress largely to blame for this failure in judgement and the lack of adequate oversight and accountability. Most of all, who has left the “crime scene” with the gold and gave the garbage loans to Freddie Mac and Fannie Mae, thus, the taxpayers and a $ [...]

 

I have a friend working in investment banking. I have bought and sold properties for the last 18 months. With the market being what it is, is there a way I could see if my friend’s firm would be interested in setting up a private mortgage loan for me to continue to buy real estate? [...]

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