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  • Steven Sheasby

    Were only Democrats invited to this? LOL!!!!

    • Rick

      Interesting how the “Likes” continually go up to 8-10 and then seem to get reset down to only a few.

  • John A.

    Director Cordray, thank you for aggressively tackling the consumer financial issiues that have plagued our country for many years!

  • Brent Nyitray

    Unless lenders get more protection against buy-back risk the safe harbor will not be enough to increase lending in any meaningful way.

  • Carter Pewterschmidt

    OK everybody calm the f down.

  • Mike

    She just said that a 43% debt ratio will not work for a borrower making only $1K per month? Isn’t $1K per month below the poverty line in America? Should this person be focusing on home ownership or finding a better job?

  • Brent Nyitray

    So did they basically say that borrowers are no longer allowed to choose higher points up front in exchange for a lower borrowing rate?

  • Jeffery Haywood

    Excellent Contribution by Reverend Twonga (Sorry I know I butchered her name) in the audience! I would love to hear the follow-up to her questions.

  • joe

    DEMS only as far too much praise to Dod & Frank. Two jokers that only get praise from the left.

  • Mike

    Great question about NAR!

  • Brian Fincanon

    Another complete WASTE of taxpayers money. Everyone knows that the Big Banks, Wall Street and the Government are to blame for the hairbrained loan programs that brought us doen in the first place. The people need protection alright, from useless organizations like this who are costing the public Millions more than any Loan Officer or Broker ever will. Typical government garbage.

  • Tim Bradford

    I have not read the entire rule, however will ask what I view as a simple question. Can someone explain the logic to the 3% limit on Fees. On a $50,000 loan the limit would be $1,500, then on a $300,000 loan the limit would be $9,000. Is the cost of processing the $300,000 loan six times the cost of processing the $50,000 loan???

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  • Barbara Welsh

    The comment regarding yield spread premium is inaccurate. Compensation rules enacted in 2010 removed yield spread premium as compensation to a mortgage broker along with borrower compensation. The yield spread premium is used to offset the allowable origination charges that have been set with each lender that a mortgage broker uses to place loans. The retail banks and correspondent lenders are not required to disclose their origination fee, rather they net it out. The banks do not provide their originators with the amount they earn on the loan. Origination fees are charged by banks – they just don’t enumerate out the costs. Mortgage brokers are the only loan originators required to disclose their fee. If the rule requires that YSP cannot offset the mortgage broker origination fee with respect to the fee cap then the mortgage broker industry will be wiped out.

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