The huge number of mortgage foreclosures has led to new state laws regarding originating loans. Politicians are creating legislation aimed at curbing the trend rather than let the free market system work out the problem. The legislated solution will eliminate legitimate loan programs and decrease the number of buyers for homes. Because Federal law trumps State laws, we also have a two tier system of how the laws will be applied.
View post: New State Laws Regarding Mortgage Broker Law May Actually Increase Foreclosures
