What does a new President mean for your home? What does it mean for purchasing a new home or refinancing? Could a new administration make it a little easier to purchase a home or refinance? The hand cuffs have been on lenders since 2008 that’s a long time, I’m not saying we should go back to pre-2008 methods but a move towards the center would be helpful for the economy as well as the US home buyer.
Many items in Dodd Frank were over reaches to correct the Wild West and they can no longer exist no matter what Sen Elizabeth Warren states. I hope the new administration reviews everything in Dodd Frank and fixes the mistakes of the past. Common sense needs to be used instead of Sen Warrens rhetoric which continues to lead to greater regulations without any solutions or ideas to fix the problem.
Lastly, Freddie Mac and Fannie Mae need to stay open, they are important components of US lending. Did they have issues during the crisis, absolutely, but we have learned from our mistakes and dumping agencies that do so much good is foolhardiness.