My New Blog Senate votes to ban No Doc loans May 13th, 2010 8:12 PM No Doc and stated income loans were very popular options prior to 2008.  They are now being blamed for the housing crash and mortgage market meltdown.  In an effort to further reform the mortgage industry the Senate has introduced a ban on these loans in the latest financial regulatory reform bill. In my opinion the primary cause of the mortgage mess is due to the pressure congress put on banks and mortgage lenders to relax their guidelines and make loans to people who did not meet traditional credit standards in order to increase home ownership.  The regulations imposed on the mortgage industry over the past few years has hurt consumers and inceased the cost of mortgage lending rather than strengthen the mortgage industry.    Posted by Dean Simpson on May 13th, 2010 8:12 PMPost a Comment (0) Subscribe to this blog * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

Recent Posts: Credit scores FHA streamline refinance Are government programs helping homeowners? Mortgage rates on the rise! Is this the right time to buy a home? Homeownership at lowest level in 10 years What are the best types of smoke detectors? The future of housing prices? FHA changes coming soon! Housing prices rise Archive: May 2010 U.S. housing prices expected to rise in 2010 Posted by Dean Simpson on May 21st, 2010 5:51 PM The good news about the european financial problems Posted by Dean Simpson on May 20th, 2010 9:28 AM You may be able to refinance without equity! Posted by Dean Simpson on May 17th, 2010 3:05 PM Mortgage rates down for now Posted by Dean Simpson on May 14th, 2010 10:51 AM Senate votes to ban No Doc loans Posted by Dean Simpson on May 13th, 2010 8:12 PM Housing shortage? Posted by Dean Simpson on May 13th, 2010 1:10 PM June 2010 Fannie Mae is cracking down on homeowner who walk away from their mortgage. Posted by Dean Simpson on June 24th, 2010 9:23 PM Upcoming FHA changes Posted by Dean Simpson on June 14th, 2010 9:56 AM June 2010 (2) May 2010 (6) My Favorite Blogs: Sites That Link to This Blog:

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