Can someone please explain to me if and how a repeal of Dodd Frank will help real estate investors?
Man this is a complicated question lol, Dodd-Frank has restricted overall loan making by banks making it much more difficult for smaller businesses and new investors to secure favorably priced loans. It has also created banks that are too big to fail and consolidated some of the banks which has resulted in the elimination of some community and smaller banks. A couple that I deal with have hired compliance officers to deal with the regulations. Most investors I know would rather there small community banks be hiring more lending officers rather than more compliance officers lol. Also it limits the products that small local community banks were "famous" for being able to make. Whether or not I agree with Dodd Frank overall is a subject for another day but these are definitely some of the arguments smaller real estate investors might make in favor of repealing hope this helps!
Will it help at all with being able to get more loans? Right now I’m able to get three loans from my local bank for real estate investments (I already have my primary mortgage with them). After 4 I’ll need to start looking at other banks. I remember reading somewhere that repealing Dodd Frank will banks being more willing to give out more loans.
@Libby Baugher 1. Your bank does not have a problem lending on non-owner occupied?
2. Did you use personal or Business income to qualify?