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New rules cut link between
mortgage terms, brokers’ fees
Washington Post, by Danielle Douglas
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Original Article
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Posted By:grandpa, 1/19/2013 2:58:09 PM
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| In the years before the financial crisis, mortgage originators were rewarded with bonuses and higher pay for steering millions of Americans into risky and unsustainable home loans. Starting next January, however, brokers’ and loan officers’ compensation will no longer be based on the terms of the mortgages they originate, according to new guidelines released Friday by the Consumer Financial Protection Bureau. The rules are the latest effort by the consumer watchdog to improve the way homeowners interact with the mortgage industry at every step of the lending process.
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Comments:
A good thing the Obama administration is doing; pulling the teeth of the predatory Wall Street Swindlers whose unrestrained greed busted the housing market and then made the little guys they had hurt the most, pay to bail them out. Come on now libertarians, tell us how well the "free markets" work- for the zillionaires.
Please DO NOT alter headline. LCom Staff.
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Reply 1 - Posted by:
Blue-Z-Anna, 1/19/2013 3:18:39 PM (No. 9126811)
Nothing "Free Market" about the sub-prime crimes.
It was a ´fix´ going in and coming out.
Crony Socialism and social engineering at every turn.
In a free market the bankers would not have been forced to make bad loans and then prosecuted for ´predatory lending´.
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Reply 2 - Posted by:
curious1, 1/19/2013 3:33:40 PM (No. 9126834)
Plus, how many of the ´little guys´ had a gun held to their head to accept the mortgage terms? Just another example of libtards making stupid decisions and wanting someone else to bail them out from their mistake.
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Reply 3 - Posted by:
civilservant, 1/19/2013 4:02:34 PM (No. 9126860)
Originating a certain number if the really subprime c rap was required to get ACORN to sign off on bank recert, new product sales, expansion of branches......
No, Grandpa. It was the Goobermint cum social engineer who done this. No free market about it.
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Reply 4 - Posted by:
Salt5792, 1/19/2013 5:25:56 PM (No. 9126973)
Nothing the CFPB puts out is official because it is illegally constituted. The Director was appointed without Senate consent while that body was in session.
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Reply 5 - Posted by:
KTWO, 1/19/2013 5:27:44 PM (No. 9126975)
Tricky. Washington is telling companies that employees must not be rewarded for making the most profitable deals.
Granted the perceived profit may prove an illusion. But if the originator promptly sells the mortgage elsewhere w/o strings then it is off the hook and the profit is real.
Risk is in holding a mortgage, not in selling it to another.
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Reply 6 - Posted by:
lakerman1, 1/19/2013 7:10:06 PM (No. 9127099)
We just closed on a new VA mortgage, through Quicken. Those folks know their stuff, and took care of things quickly, as their name would indicate, and we cut our interest rate in half.
There were some silly procedures, however, apparently mandated by washington, and it was a bit irritating, but it was not Quicken´s fault.
Now, with a rash of new regulations, it may be exceedingly painful to get a mortgage.
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Reply 7 - Posted by:
ColonialAmerican1623, 1/19/2013 9:39:45 PM (No. 9127262)
When I bought my last house ten years ago, it was no holes barred. I was offered every strange loan in existence. Sorry part of the blame and fines didn´t include everybody on the take.
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Reply 8 - Posted by:
Trigger2, 1/20/2013 12:46:40 AM (No. 9127405)
Sorry poster, but it was Congress (demonrats) and community organizers who allowed predatory loans.
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Below, you will find ...
Most Recent Articles posted by "grandpa"
and
Most Active Articles (last 48 hours)
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Most Recent Articles posted by "grandpa"
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Drivers face high gas prices
despite US oil boom
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Associated Press, by Jonathan Fahey
Original Article
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Posted By: grandpa- 3/22/2013 11:53:23 AM
Post Reply
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The U.S. is increasing its oil production faster than ever and U.S. drivers are guzzling less gas. But you´d never know it from the price at the pump. (Snip) A major reason cited for high gasoline prices over the past two years -- fighting and political tensions in the Middle East and North Africa -- doesn´t apply this year. Libyan production has returned after collapsing during the country’s revolution two years ago. And higher production from the U.S. and Saudi Arabia has made up for Iran’s declining output in the face of Western sanctions.
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Lawmakers rip into regulators over
money-laundering prosecution
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Washington Post, by Danielle Douglas
Original Article
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Posted By: grandpa- 3/9/2013 2:03:15 PM
Post Reply
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Senate Democrats lit into Treasury and federal Reserve officials Thursday over the handling of anti-money-laundering cases, questioning whether regulators are treating bag banks accused of violating U.S. laws with kid gloves. (Snip) Warren´s remarks arose out of a discussion about regulators´ decision not to shut down HSBC or remove any of its employees for allegedly laundering money for Mexican drug cartels.
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Atty. General Eric H. Holder Jr.: States
to get guidance on legalized marijuana
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Washington Times, by David Sherfinski
Original Article
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Posted By: grandpa- 2/27/2013 3:40:15 PM
Post Reply
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U.S. Attorney General Eric H. Holder Jr. said Tuesday that federal guidance on new laws legalizing marijuana in Colorado and Washington state is imminent as state oficials have been forced to tread cautiously in their efforts to implememt the laws. (Snip) Marijuana has been legalized for limited medical use in 18 states, as well as the District of Columbia, where applicants had to sign waivers releasing the city from liability if the federal government prosecuted the program’s participants. To proponents of medical marijuana, the Justice Department’s letter served as a reminder of the tenuous relationship between local and federal views on medicinal marijuana use.
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New rules cut link between
mortgage terms, brokers’ fees
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Washington Post, by Danielle Douglas
Original Article
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Posted By: grandpa- 1/19/2013 2:58:09 PM
Post Reply
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In the years before the financial crisis, mortgage originators were rewarded with bonuses and higher pay for steering millions of Americans into risky and unsustainable home loans. Starting next January, however, brokers’ and loan officers’ compensation will no longer be based on the terms of the mortgages they originate, according to new guidelines released Friday by the Consumer Financial Protection Bureau. The rules are the latest effort by the consumer watchdog to improve the way homeowners interact with the mortgage industry at every step of the lending process.
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Common ground on guns
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Washington Post, by Tim Kaine
Original Article
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Posted By: grandpa- 1/15/2013 4:25:19 PM
Post Reply
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Our nation faces a fundamental question in the aftermath of the tragedy in Newtown, Conn. If gun violence is a problem -- and U.S. citizens overwhelmingly think that it is -- will our leaders act quickly and wisely to reduce gun deaths? (Snip) Those who say it´s only about gun limitations should know that Virginia´s experience has shown the importance of enhanced criminal penalties, greater access to mental-health services and campus security protocols.
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No easy task to identify
a mass killer
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Washington Post, by David Brown
Original Article
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Posted By: grandpa- 1/4/2013 6:28:30 PM
Post Reply
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After every act of incomprehensible violence, the world asks whether the killer could have been identified ahead of time. It´s as automatic as the call for more gun control and better mental health services. (Snip) The vast majority of mentally ill people won´t commit assault, rape, arson or homicide, although the risk rises sharply among those who abuse drugs and alcohol.
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Medical marijuana dispensary
prepares to open in D.C.
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Washington Post, by Tim Craig
Original Article
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Posted By: grandpa- 1/2/2013 2:31:23 PM
Post Reply
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A townhouse on North Capitol Street in Northwest, which has unobstructed view of the U.S. Capitol from the sidewalk, was recently painted bright blue. (Snip) But by spring, the townhouse at 1334 North Capitol St. will make a bolder statement by becoming a symbol for the District´s leap into the growth and sale of medical marijuana.
Headline corrected by staff.
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The Prescription Painkiller Binge
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Washington Post, by Peter Whoriskey
Original Article
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Posted By: grandpa- 12/31/2012 4:15:18 PM
Post Reply
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Portsmouth, Ohio — Over much of the past decade, the official word on OxyContin was that it rarely posed problems of addiction for patients.The label on the drug, which was approved by the FDA, said the risks of addiction were “reported to be small.”As drug industry’s influence over research grows, so does the potential for bias. Medicare overspending on anemia drug.The New England Journal of Medicine, the nation’s premier medical publication, informed readers that studies indicated that such painkillers pose “a minimal risk of addiction.”
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The big benefits of a tiny
tax on financial trading
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Washington Post, by Ralph Nader
Original Article
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Posted By: grandpa- 12/3/2012 2:55:40 PM
Post Reply
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Ralph Nader argues that fiscal cliff negotiators should bring back the old levy on Wall Street’s transactions. In the debate over the “fiscal cliff,” President Obama and congressional Republicans have returned to the proposals that they were sparring over before the election. They remain at odds over key elements of revenue and spending. Yet both sides are unwilling to consider a minuscule tax on financial transactions that could be a major source of income.
Headline split by staff.
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Pot smokers’ outlook still hazy
after Colorado legalization vote
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Washington Times, by Valerie Richardson
Original Article
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Posted By: grandpa- 11/28/2012 2:28:48 PM
Post Reply
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When it comes to legalized pot, Coloradans are still holding their breath. Three weeks after votes were cast, state recreational smokers are waiting and watching warily for the Obama administration’s reaction to Amendment 64, which made the Centennial State one of just two in the nation where lighting up in small amounts for personal pleasure is no longer a state crime.
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CDC: Youths make up
1 in 4 new HIV cases
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Washington Times, by Cheryl Wetzstein
Original Article
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Posted By: grandpa- 11/28/2012 2:00:40 PM
Post Reply
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Teens and young adults now account for more than a quarter of the new cases of HIV identified in the United States annually, and a clear majority of those cases involve young gay or bisexual men, the federal government said in a major new survey Tuesday. Of the nearly 48,000 new HIV cases identified in the United States in 2010, the latest year for which complete data are available, more than 12,000 involved teens and young adults
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Emboldened gay-marriage
supporters now want more
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Washington Times, by Cheryl Wetzstein
Original Article
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Posted By: grandpa- 11/25/2012 5:11:46 PM
Post Reply
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Bolstered by their recent wins at the ballot box, gay-marriage activists say they are looking to build on their newfound momentum at the ballot box and in the courtroom. Having broken a long losing string at the polls Nov. 6, gay marriage backers already have targeted several states for statewide voting drives, even as they await an imminent announcement from the Supreme Court that could reignite the battle over same-sex marriage in California. Among the states being primed for marriage battles are New Jersey, one of just two states electing a governor and new state legislature in 2013,
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Most Active Articles (last 48 hours)
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We Are Living in
a Dying Country
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Rushlimbaugh.com, by Rush Limbaugh
Original Article
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Posted By: Desert Fox- 4/5/2013 4:53:10 PM
Post Reply
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RUSH: Folks, I don´t know how else to categorize this. We are living in a dying country. I don´t know how else to categorize what´s happening -- 88,000 new jobs. The unemployment rate, because of a terrible statistic, is down to 7.6%. The number of people in this country who are not working is shameful. Ninety million Americans are no longer in the workforce. Ninety million. People not in the labor force grew by 663,000, and now 90 million. That´s the labor force participation rate. This is 1979 levels.
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Why Obama´s ´Best-Looking Attorney
General´ Comment Was a Gaffe
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The Atlantic, by Garance Franke-Ruta
Original Article
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Posted By: Oblio- 4/6/2013 6:51:15 AM
Post Reply
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President Obama´s biggest gaffe yesterday when speaking of California Attorney General Kamala Harris was not in flirtatiously complimenting her as "the best-looking attorney general," but in introducing an observation from the system of beauty into a forum that was about the system of power.What´s that, you say? Irin Carmon does a great job in Salon in laying out the bounds of propriety for when it´s appropriate to talk about a woman´s looks as a general matter. But I´ve long felt we lack a solid theoretical underpinning for easily discussing these issues, and why precisely it is that
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´My bangs are getting
a little irritating´: Michelle
Obama admits she already regrets
her high-maintenance hairdo
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Daily Mail (UK), by Margot Peppers
Original Article
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Posted By: pineledger- 4/7/2013 7:43:42 AM
Post Reply
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Michelle Obama has admitted that she is already tired of the bangs she first sported in January. The First Lady said in an interview with Entertainment Tonight: ´Bangs are a day-by-day proposition. They´re starting to grow out, get a little irritating.´ Still, she hasn´t let her hairdo woes get her down. ´It´s okay,´ she said after her initial complaint. ´We´ll be good.´ The first indication that her hairstyle was becoming a burden came about last weekend, when Malia, 14, was spotted adjusting her mother´s hair during the White House Easter Egg Roll.
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Hillary Clinton Would Not
´Clear the Field´ for 2016
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New Republic, by Tod Lindberg
Original Article
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Posted By: StormCnter- 4/6/2013 5:22:36 AM
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No one is more preoccupied these days with Hillary Clinton´s 2016 plans than the Beltway political class—not even the former presidential candidate herself. To hear some tell it, her decision will be dispositive for all other Democrats thinking of entering the race. And pundits and reporters aren´t the only ones positing the "The Hillary Factor": No less than the House Democratic whip, Steny Hoyer, told BuzzFeed, “I don´t know that anybody would run against Hillary…. If she runs, she clears the field.” It´s an understandable conclusion, given Clinton´s stature in the Democratic Party and her 70 percent
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Obama critic apologizes for
his ´poorly chosen words´
on gay marriage
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The Hill [Washington DC], by Alexandra Jaffe
Original Article
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Posted By: JoniTx- 4/6/2013 12:18:19 PM
Post Reply
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Neurosurgeon Ben Carson, considered by some to be a potential Republican contender for president, apologized to Johns Hopkins University for the "poorly chosen words" he used in expressing his opposition to gay marriage last month.“I am sorry for any embarrassment this has caused,” Carson said in the letter, reported in New York Magazine.(Snip) "Although I do believe marriage is between a man and a woman, there are much less offensive ways to make that point. I hope all will look at a lifetime of service over some poorly chosen words.” Carson will remain as commencement speaker at Johns Hopkins,
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Hillary Clinton: The clock is turning
back for women in America
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Washington Examiner, by Charlie Spiering
Original Article
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Posted By: Desert Fox- 4/5/2013 3:25:20 PM
Post Reply
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Former Secretary of State Hillary Clinton explained to the Women in the World summit in New York today that the clock is turning back for women in America. Clinton praised her own mother for helping empower her to success and marveled at the opportunities that her own daughter Chelsea has pursued. But Clinton warned that there is still so much to do to promote women´s rights in America. "As I look at all these young women that I am privileged to work with, or know through Chelsea, and its hard to imagine turning the clock on them," Clinton said.
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White House Blames Jobs
Numbers on Sequester
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Breitbart´s Big Government, by Wynton Hall
Original Article
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Posted By: Dreadnought- 4/5/2013 8:02:58 PM
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The Obama White House is scrambling to blame Friday’s abysmal March jobs numbers on the sequester’s trimming of the rate of growth in federal budgets that have yet to fully commence. After the Labor Department announced that a mass exodus of 663,000 workers left the U.S. workforce last month and that job creation fell 112,000 jobs short of projections, Obama’s top economic adviser Alan B. Krueger, took to the White House blog to blame the sequester: It is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look
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Vanishing workforce
weighs on growth
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Washington Post, by Jim Tankersley
Original Article
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Posted By: Dreadnought- 4/6/2013 11:28:59 PM
Post Reply
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Put out an all-points bulletin: Millions of Americans have gone missing from the workforce. Every month that those would-be workers are gone raises the odds that they might never come back, dimming the prospects for future economic growth. The vanishing trend is more than a decade old, but it accelerated during the Great Recession. Throughout 2012, economists held out hope that it had stopped. But then came Friday’s jobs report, and hopes were dashed. The Labor Department reported that the U.S. labor force — everyone who has a job or is looking for one — shrank
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Mother Of Slain Benghazi
Officer To Sean Hannity:
‘They Want Me To Shut Up’
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Mediaite, by A.J. Delgado
Original Article
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Posted By: StormCnter- 4/7/2013 5:00:16 AM
Post Reply
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On Friday, Sean Hannity brought Pat Smith, mother of the late Sean Smith, on his radio program. The 34-year-old information management officer was one of four Americans murdered in the Benghazi embassy attack on September 11, 2012. In the chilling interview, a distraught Ms. Smith, in tears, pleaded for answers and spoke of the efforts to silence her. Ms. Smith first relayed how her son, prior to the attack, requested additional security in advance and warned the State Department: He did tell them, ahead of time, he typed it into his little typewriter over there,
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Trayvon Martin´s parents
settle wrongful death claim
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Orlando Sentinel, by Rene Stutzman
Original Article
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Posted By: Desert Fox- 4/5/2013 3:15:25 PM
Post Reply
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SANFORD - Trayvon Martin´s parents have settled a wrongful death claim for an amount believed to be more than $1 million against the homeowners association of the Sanford subdivision where their teenage son was killed. Their attorney, Benjamin Crump, filed that paperwork at the Seminole County Courthouse, a portion of which was made public today. In the five pages of the settlement that were available for public review, the settlement amount had been marked out. Lower in the agreement, the parties specified that they would keep that amount confidential. When asked during an earlier interview whether the amount was
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Beyonce, Jay-Z celebrate 5th
anniversary in Havana, Cuba
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Los Angeles Times, by Nardine Saad
Original Article
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Posted By: Fiesta del sol- 4/6/2013 8:20:04 AM
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Beyonce and Jay-Z celebrated their fifth wedding anniversary in Cuba this week. The couple, who married on April 4, 2008, took in the sights of Old Havana, visited a school, dined on a rooftop terrace and strolled the fan-filled streets in their island best.(snip).The power couple declined to answer journalists´ questions about their visit to the island nation, but some outlets are reporting that the moguls are there as tourists, though that would be illegal because of the half-century embargo the U.S. has on the Communist country. However, the Miami Herald said Washington has issued special licenses for
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