Dodd Frank

[Jim Farrell]

I'm an investor new to the note side, and keep hearing "Dodd Frank".  I understand that this relates to federal law passed in the last few years under the guise of "helping the consumer".

It may be way too complex to address in a collection of posts here, but what is the upshot of Dodd Frank as it relates to NPN or performing note investing? What does a note investor need to be versed in with Dodd Frank?

Thanks in advance!

[Paul S.]

Dodd-Frank is a monster and there is more in there than most could really comprehend. I think one of the most relevant parts for BP members is Title XIV – Mortgage Reform and Anti-Predatory Lending Act which deals with Residential Mortgage Loan Organization Standards, Minimum Standards for Mortgages, High-Cost Mortgages, Mortgage Servicing, Appraisal Activities, Mortgage Resolution & Modification as well as a couple other items. There are plenty of sites that have summaries but I think if you are going to dig into it this is likely the most relevant section.