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Guys and Gals, we have had a rocky road the past year or so, but that will be nothing if and when Barney Frank and his crew from Congress come rolling onto the playground. We are going to see a great deal of “I love you, you love me” come pouring out of his mouth and pen as he tries to fix a capitalistic system with a myriad of socialist government regulation.

And in the end the costs and restrictions of government intervention on an already shaky system may be the proverbial straw that breaks the camels back. So watch this very closely, even if you are not a real estate agent, broker, or are in the mortgage world. None of the details are out but already Barney Frank is hyping this as the way out of the mortgage mess.

Let me tell you, if Barney is getting involved in my personal finances and homeownership, I am very afraid.

The lawmaker has said little about what his mortgage legislation would look like or which businesses it would affect most. Still, his bill is expected to be one of the most comprehensive pieces of legislation brought to the committee since Frank took over as chairman in January.
The bill is expected to address multiple aspects of the mortgage origination process, stretching from origination standards to activities in the secondary market.
During congressional hearings and in speeches, Frank has remarked on uneven oversight of the mortgage industry that he would like to address, as federally regulated institutions are under much stricter standards than other originators. via  Forbes.com.

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