The Federal Reserve has been busted in a major scandal.
St Paul, MN: On April 1, 2011 – sweeping new mortgage broker and mortgage lender changes go into effect which will stifle competition, reduce loan options, extend the housing market recover time, and increase interest rates and closing costs to home owners everywhere.
The rules made no sense to anyone, yet the Federal Reserve marches on with a cocky attitude, completely unwilling to listen to trade groups and those in the mortgage business explaining how damaging these new rules will be.
NOW WE KNOW WHY! People who previously did studies which produced positive outlooks towards brokers and small lenders NOW WORK FOR THE FEDERAL RESERVE BOARD and magically have a different attitude AND have have their voices silenced – WOW!
Another great video from Frank and Brian over at www.tbwsdailyshow.com
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