DISQUS

Kelly Rusk · 1 year ago

Instead of regulation or government control, I would like to see borrowers step up and influence change in the way the banks do business. Look at the travel industry--it has been revolutionized by the internet and now people are traveling cheaper and more efficiently than ever before. There is still a place for travel agents, but generally the bad ones have been pushed away while the good ones excel at what they do.

if the same thing were to happen for the mortgage industry, chances are we would not be finding ourselves in this mess every few years. (or at least what seems like). Mortgages are complicated business and expertise is certainly required but that doesn't mean some fundamental changes in the way consumers approach the mortgage process can't happen.

CRay · 1 year ago

One of the main reasons why we're in this mess is because regulation was taken out during the Clinton administration ... then, slowly but surely Acorn moved and manipulated the lenders and bad deals were bought and sold.

The current administration tried to install new regulations in 2001/2003/2005, but was shot down by every congressman that thought their constituents would be better off in a home loan with no regulations and no money down...

--- obviously they were wrong - again.

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