Washington D.C. - July 1, 2009 - Consumer Financial Protection Agency legislation published. - The administration has published its suggested legislation designed to implement a new Consumer Financial Protection Agency. Click here to view a copy of the full 152 page proposed legislation.
Denver, CO - July 1, 2009 - Mark your calendars - Notice of Proposed Rule Making - - - The Colorado Division of Real Estate announced a public hearing on August 4, 2009 at 2:30PM regarding two new rules affecting mortgage loan originators. The rules relate to license renewal (Rule 1-1-4) and and to Education (Rule1-4-1). Click here to view the 7 page Rule 1-4-1 Licensing Education, Examination and Continuing Education Requirements. Click here to view the 5 page Rule 1-1-4 Mortgage Loan Originator License Renewal, Reinstatement and Re-Application.
Washington, D.C., June 25, 2009 - Legislation introduced to impose a moratorium on HVCC. U.S. Reps. Travis Childers (D-MS) and Gary Miller (R-CA) have co-sponsored a bill to place an 18 month moratorium on the recently implemented Home Valuation Code of Conduct. While the language of the bill is not yet available from the GPO, IMMAAG encourages everyone to contact your representative and ask for their support.
Washington D.C. June 24, 2009 - - - FOMC holds the Fed Funds rate at 0% - 0.25% and announces continued strong support ($1.75 trillion this year) of agency securities and Treasury debt. Click here to read the press release.
Washington D.C. June 24, 2009 - - - House Financial Service Committee receives testimony regarding Consumer Financial Protection. . Click here for the announcement.
Your action Needed!
HVCC Needs to End! Pass it along!
Every settlement service provider has become acutely aware of the tremendously negative impact caused by the May 1, 2009 implementation of the well intended but ill-conceived Home Valuation Code of Conduct (HVCC). Consumers will become mroe aware as time passes!
The National Association of Mortgage Brokers is continuing its campaign asking all of us to ACT NOW and speak up about the real world hurt this agreement is doing to consumers and to the industry.
Click here to read NAMB's call to action and then follow up and ACT!