Posted by Karl (Oh) on July 03, 2007 at 10:25:54:
You and I are having two different discussions.
The new law simply requires that all residential mortgage â??lendersâ?? (maybe thatâ??s me, maybe its not, who cares) provide information to their buyers on predatory lending. Thatâ??s it. Its ten seconds of the closing. Its good information. Iâ??m more than happy to comply. Its an opportunity to point out to my customers that my business is straight up. Its as painless as the Truth In Lending Act Disclosure. Are the courts arguing the constitutionality of that act?
Iâ??m not over-worrying about anything. Why do you insist that I am? This statute shouldn’t and isnâ??t going to stop me or anyone from doing Lonnie deals. I absolutely agree with you. Iâ??m not going to do anything differently because of this law. Iâ??m already doing everything right. I don’t think anyone is accusing me of predatory lending. Its just another piece of paper for the file.
I agree with you, thereâ??s nothing wrong with what we do. You donâ??t have to keep making that point. I donâ??t think anyone in Columbus thinks thereâ??s anything wrong with what we do. Iâ??m sure they have no idea what Lonnie deals even are. I donâ??t think theyâ??re targeting us. I donâ??t think that they think weâ??re crooks. How many laws do you see that only require the crooks to comply, and allow everyone else off the hook? They want everyone to comply, and thatâ??s okay with me.
But maybe Iâ??m being naÃ¯ve, and I really should be worrying about this. NOW youâ??ve got me wondering!