Banks Faces Big Problems

Banks Face Big Problems

12 Feb 2015

In response to the recession, Congress passed the Dodd-Frank law that brought notable changes in the American financial regulatory environment. The changes under the Dodd-Frank Wall Street Reform and Consumer Protection Act are intended to decrease risks in the U.S. financial system, such as predatory mortgage lending, making it easier for consumers to understand mortgage terms before finalizing the paperwork.

Additionally, the Consumer Financial Protection Bureau (CFPB) prevents mortgage brokers from earning higher commissions for closing loans with higher fees. Mortgage originators are not allowed to push potential borrowers towards loan that will result in the highest payment for the originator.

Large and small banks are no longer the best resource for those in need of lending options. With increasing challenges, banks are out of the small business lending market. This is why consumers need to be smart about their real estate investments in times of uncertainty. Choose a title partner with your best interest in mind.

Marina Title is Florida’s longtime Title Insurance and real estate closing service provider. We help borrowers during the closing process to ensure they are protected during the purchase of their new South Florida home. Contact us today at (305)-901-5628 or to speak with an expert.

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