Dodd-Frank is going bye bye.

11 Replies

Hi BP I just read that Congress just approved a bill to "dismantle" dodd-frank. What impact do you think this will have on REI?

https://www.nbcnews.com/business/economy/congress-just-approved-bill-dismantle-parts-dodd-frank-banking-rule-n876516

If you search through some of  @Bill Gulley 's old posts you'll see a lot of discussion on Dodd-Frank, the Safe Act, etc, their objectives and the resistance to them at the time they were brought into being.

Didn’t read the actual bill but it seems they are only easing the rules for the smaller banks and credit unions, under $10B in assets. DF was Not repealed in whole.

So does this mean a savvy investor starts selling and hoarding cash in preparation to pounce on deals in the downturn? I’ve always heard: Sell when others are buying and buy when others are selling.

I suppose the other part of it is how long will be at or near the top?

By the time it’s obvious it’s also too late.

They're not repealing it. At all. Everyone calm your butts.

They just pulled back the regulations on small lending establishments.

https://www.thebalance.com/dodd-frank-wall-street-reform-act-3305688

Originally posted by @Natalie Kolodij :

They're not repealing it. At all. Everyone calm your butts.

They just pulled back the regulations on small lending establishments.

https://www.thebalance.com/dodd-frank-wall-street-...

 This

far from going bye-bye, just readjusting for small/mid sized lenders

dodd frank is a good bill, and like all of bills of this size and scope, they will need reasonable adjustments as time goes on

I doubt anyone will notice any direct affects of this, though the lenders affected by it (like BB&T especially) will have a lot of opportunity open up.

Yes, the original version helped brokers and big banks, screwed small banks and small mortgage bankers. Created bigger lending fees and doubled title fees in some cases. Too bad these changes will do little to correct most of that.

Thought I would remind everyone...

"In the United States, when credits are applied to a purchase price the agreement becomes a financing contract and these contracts have been identified as predatory lending arrangements under the Dodd-Frank Act. Under this federal law any financing arrangement requires the purchaser of an owner occupied dwelling (one to four living units) is to qualify for any financing contract with a registered Mortgage Loan Originator. There are exemptions under this federal law for homeowners financing their primary residence, those in the business of real estate such as landlords are considered dealers. In all states, rent to own arrangements are no longer compliant with federal financing requirements."

It is FEDERAL LAW.

So watch out for rent credits and lease options.