"Thanks for this comment Ross. The “shadow banking system” was created by the GSE’s, Wall Street, and rating companies like Moody’s & S&P. These are the entities that created “securitized mortgages” and sold them to would be investors who thought they were buying AAA rated fixed income bonds only to find out they were buying “junk” mortgages. Why are S&P and Moody’s getting a “pass” and still being allowed to evaluate credit..."    View Post

"My wife is going to UNC to get her Masters Degree and we are in the process of looking for a home in the Chapel Hill area. Any suggestions about school districts, and neighborhoods? Also, in the process of looking to expand my practice in NC and wondering if anyone who is an owner operator might be interested in chatting about the market conditions there. Thanks, Seth ~"    View Post

"Hi there Bob, Thanks for the information about the 120 day period, and for your shared outrage at this feeble attempt by the FED to appease it's critics. Great point you make! Why would a broker of any product or service be precluded from marking up the product and making a living. If the consumer doesn't think the product is competitive he should simply not buy it. The sub-prime mess wasn't about lack of understanding in regards to products being offered, it was about Wall Street offering..."    View Post

"So sorry for the bad spelling Curt. I was in a hurry and in such a foul mood when I wrote the post that I didn't take the time to proof read it. Thanks for the corrections. There is no bill number as this is not a measure being proposed by the House or Senate, but rather a new directive coming straight from the Federal Reserve who is in a rush to do as much regulation as they can lest they lose their oversight powers to Obama's newly proposed Consumer Products Tsar. Seth ~"    View Post

"Hi Everyone, Is anyone familiar with the detials of this plan? Are they going to allow retail loan officers at the Banks to sell no points loans where the loan officer is paid a commission? Any chance that the NAMB is going to have any success in killing this proposal. Seems like they are trying to regulate us out of exisitance with this. Why don't they regulate the Wall Street firms that securitized all the sub prime mortgages out of exisitance instead, and then regulate out of exisitnace the..."    View Post