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Welcome to the ‘Never mind Obama, it’s all about me’ Donald Trump presidency

Pres. Obama 12 31 12I can remember quite vividly the days during the 2016 presidential when Hillary Clinton was portrayed as a “third term of Obama.” Considering the current disaster in the White House, a third Obama term would be quite welcome and be a major step in returning some dignity to the American presidency.
When considering what was accomplished by President Obama during a time in which the Republicans held a majority in both houses of Congress as compared to a Trump administration which has the benefit of that same Republican majority in both houses, one can only be amazed at the magnitude of the difference.

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Increasing home ownership by reforming Dodd-Frank

 

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When President Trump was campaigning, one of his talking points was to “dismantle” Dodd-Frank. And after a couple of weeks in office, it seems that it’s next on his “to do” list. While many are already touting the move as controversial and partisan, the reality is that it’s a bipartisan issue. Even Barney Frank was seen on CNBC this past Sunday admitting that his namesake legislation needs reform (video.cnbc.com/gallery/?video=3000590611).

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Change is in the air and all around real estate

 

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Change is not always easy. Sometimes we choose to change and other times we are forced to change. The Great Recession forced massive change to many aspects of our lives – mostly financial. Many found themselves out of work because of the recession, and many home owners lost their homes to foreclosure; while the rest of us searched for ways to cope.

As a result, the Dodd–Frank Wall Street Reform and Consumer Protection Act was quickly pieced together and signed into law in 2010. “Dodd-Frank,” contained over 2000 pages of regulations and rules, many of which were to be created at a later time by many agencies and unelected bureaucrats. Dodd-Frank also created the Consumer Financial Protection Bureau, which took over RESPA, lending and consumer finance markets enforcement responsibilities. The CFPB created the “Qualified Residential Mortgage” and “Know Before You Owe” rules that significantly impacted the mortgage and housing industries.

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Reform of the Consumer Finance Protection Bureau

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Since its inception, the Consumer Finance Protection Bureau (consumerfinance.gov) has had many advocates and many critics. While many point to the CFPB’s staunch protection of consumers, some have argued that the independent agency has too much power with little oversight. And this week’s opinion from the United States Court of Appeals in the case of PHH Corp v, Consumer Financial Protection Bureau seems to side with CFPB’s detractors.

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