DODD-FRANK, UNDER THE GUN!

[Bill Gulley]

This is not a political thread! However, Dodd-Frank is under the gun with changes (pulling teeth) from the Act under the proposed government funding Bill.

The attack seems to be where you'd expect it to be, provisions were written by CITIGROUP  pulling the teeth on allowing the 4 big banks (that have 92% of the business at risk) dealing in securities allowing depository coverage, meaning the tax payer will be back on the hook as they were before the DF Act.

IMO, a bad idea, but not a political view, but a financial one.

More changes will likely be attempted next year, we can expect that.

But, this post is to what might be changed as to what most likely won't be changed. Remember, the bank types wrote much of the DF Act. There are provisions in there that go to the benefit of the larger and even small institutions.

Mortgage brokerage laws......my opinion, not likely to be changed.

Seller financing aspects........my opinion, not likely to be changed more exemptions ???

Predatory aspects................my opinion, not likely at the dealer level

Servicing requirements.........my opinion, won't be changed in the scope of investors

I won't hold my breath on changes made at the street level, changes may be on the way for the larger profit centers at the macro level.

Will that mean loans can get back to where they were? No income document loans?

I don't think so, if I were "them" having been tagged once, I don't think I'd do it again.

What do you think?

Remember, please, no political comments as to who does what right or wrong, just the aspects up for modification and the effects. :)