How Dodd-Frank changed housing, for good and bad

20 Jul

Reblogged from: CNBC – Diana Olick

The effect of loose lending during the last housing boom was abundantly clear: Nearly 8 million U.S. homes fell into foreclosure. The response was a slew of new lending rules under the Dodd-Frank financial reform law, and the result was a credit lockdown that continues today, nearly five years after the legislation was enacted.

"For lenders this is all about paperwork, verification and doing a lot of the grunt work that was ignored or passed over before the crisis," said Jaret Seiberg, a managing director at financing firm Guggenheim Securities.

>> Read More: http://www.cnbc.com/2015/07/16/how-dodd-frank-changed-housing-for-good-and-bad.html

Visit my website at: www.juliecnichols.com or contact me with any of your home loan questions.

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