Sam Gendusa August 5, 2013

Three years after the enactment of the Dodd-Frank Act, the full impact on home lending still remains a question mark. Real estate professionals and lawmakers continue to debate the influence and impact of the act. During the House Financial Services Subcommittee on Financial Institutions and Consumer Credit experts shared fears of specific borrowers getting locked out of the lending system.

Experts are expressing concerns for low and moderate income households, the ability-to-repay standards, ability to get a mortgage, and other elements that undermine housing recovery. As 2013 continues, the housing industry and its regulators consider how the Dodd-Frank Act has evolved. It’s likely that regulatory activity this year will include:

  • Financial Stability Reform – Elements of risk regulation should be completed, including comparable standards for foreign banking and enhanced standards.
  • Foreign Bank Regulation – The treatment of FBOs will likely receive increased attention.
  • Securitization Reform – This may include finalization of risk retention requirements.
  • Investor Protection Reform – It’s expected for enforcement actions to become more aggressive and implement disclosure efforts and examinations.
  • Resolution Planning – This includes living will filings as well as crisis management for international dealings.
  • Consumer Protection Reform – Mortgage transaction rules concerning reporting mortgage data under the Home Mortgage Disclosure Act are likely to be issued.

New rule regulations are having experts question the potential results, including the importance of local banks to positively impact the local economy, and in turn national economic recovery. Dodd-Frank has the potential to help build a thriving, competitive marketplace.

As the rules of the housing market continue to tighten and change, it’s vital to have your staff up-to-date on compliance and regulations. As a document retrieval company, Blue Streak Docs does what we can to support mortgage professionals and real estate attorneys with paperwork needs. We have the trained staff to handle all your property reports, title searches, and document recording needs. If you would like more information about our services and how we can handle your details, give us a call today at 727-479-0007.

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