Comments on: Congress Introduces Community Choice In Real Estate Act, or more accurately, Keep Banks Out of Real Estate Act http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/ Real Estate Blog, Mortgage, and Development News Sun, 21 Mar 2010 17:00:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: John http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/comment-page-1/#comment-339312 John Thu, 05 Feb 2009 17:46:20 +0000 http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/#comment-339312 Banks can sure leverage a dollar but the current housing mess puts even their ability to do that in question. They should not be allowed into any new arenas until they get lending right. One of the biggest complaints is that a home owner in trouble has to be 90 days in arrears until the lender will even talk to them. The process is incredibly tedious and frustrating. With banks entering the sales and management side I do not see service improving or costs going down for the consumer. Banks are too large as it is and broadening their reach and influence sounds like a lose/lose for the consumer and the nation. I see less competition, worse service and no savings never mind conflicts of interest! Banks can sure leverage a dollar but the current housing mess puts even their ability to do that in question. They should not be allowed into any new arenas until they get lending right. One of the biggest complaints is that a home owner in trouble has to be 90 days in arrears until the lender will even talk to them. The process is incredibly tedious and frustrating. With banks entering the sales and management side I do not see service improving or costs going down for the consumer. Banks are too large as it is and broadening their reach and influence sounds like a lose/lose for the consumer and the nation. I see less competition, worse service and no savings never mind conflicts of interest!

]]> By: Brian http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/comment-page-1/#comment-32231 Brian Mon, 05 Feb 2007 16:00:56 +0000 http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/#comment-32231 Banks originate mortgages and there are independent mortgage brokers. Thus, if banks entered the real estate business as brokers, there would likely still be independent real estate agents. I'm open to arguments, but I don't see how additional competition would lead to higher costs for consumers. Banks originate mortgages and there are independent mortgage brokers.

Thus, if banks entered the real estate business as brokers, there would likely still be independent real estate agents.

I’m open to arguments, but I don’t see how additional competition would lead to higher costs for consumers.

]]> By: LandlordSuccess.com http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/comment-page-1/#comment-31033 LandlordSuccess.com Wed, 31 Jan 2007 13:29:20 +0000 http://www.therealestatebloggers.com/2007/01/30/congress-introduces-community-choice-in-real-estate-act-or-more-accurately-keep-banks-out-of-real-estate-act/#comment-31033 In my opinion, quality of service would suffer as well as prices would increase. I think that this legislation is a good thing for the real estate industry. In my opinion, quality of service would suffer as well as prices would increase. I think that this legislation is a good thing for the real estate industry.

]]>