Democratic Underground - The laws that Cuomo wrote

Reply #11: The laws that Cuomo wrote [View All]

Lefta Dissenter

(1000+ posts) Send PM | Profile | Ignore

Mon Mar-21-11 06:19 PM
Response to Reply #10

11. The laws that Cuomo wrote

were federal laws that were implemented on Jan 01 last year, so they would have hit Florida in addition to any state laws that have been added. If you asked me at the time, I would have told you that I thought that the big banks wrote the new laws. They end up being the only ones who gained.

Borrowers lost, brokers lost, appraisers lost...

Big banks gained, as did these spin-off "appraisal servicing" firms that now have to serve as middle-man for the appraisals. We had relationships with appraisers who were great - they would show up on time, have reports in within hours of the inspection, and they knew the local markets. Now we have to deal with whatever tom, dick or harry is provided, regardless of where he's from or how long he decides to take to get the work done. OK, so now I'm just whining. Off to my reading! :hi:

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Reply #11: The laws that Cuomo wrote [View All]