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Not only are they taking away the DPA, but they are going to hurt a lot of honest mortgage companies with the new licensing requirment. There is nothing wrong with ensuring the licensing of LO's. But it's going to many business on a HAULT, for only God knows how long. Not only that, but the new regulations aren't even known by anyone yet. or if they are and I am just not finding anything, link me to where I can read the regulations.
MyMrMortgage 3 years ago
Nobody has any comments for the worst part in the bill...SELLER ASSISTED DPA TO END...i am in real estate in florida and the neia-maya program and ameridream program (seller assisted down payment) is THE ONLY thing that has kept this market from a complete hault...buyer have to show and document the ability to pay the loan back so the risk in these loans is very small....THIS provision will DESTROY the market and put a lot of people out of work as well as takes away the dream of homeownership
ndgarcia2 3 years ago