Mortgage Brokers Lobby Government - Just another day in the mortgage mess

The National Association of Mortgage Brokers lobbying on regulations for home appraisals as well as the laws governing information disclosed when borrowers apply for a loan. I hope the National Association of Mortgage Brokers prevails. If they prevail, then borrowers should prevail.

http://www.cnbc.com/id/32449408

It is my opinion, banks need to always encourage potential borrowers to self-select in a favorable way.

On the contrary, President Obama does not seem to understand that borrowers always had the freedom to self-select in a favorable way. It was called "shopping for a loan". Free-will always existed; however, making smart decisions did not seem to exist, as we know today. Therefore, the subprime mess was a self-inflicted wound where ignorance should not be allowed to prevail! Subprime should have been the most profitable sector for the financial markets, at 60% loan to value not 100% loan to value. What were these Executives thinking? In knowing this, why penalize the private market for the stupidity that this government failed to monitor?

Instead, President Obama should consider a protection agency that regulates the regulators and federal agencies overseeing the financial sector of this country. If he were to do this, then consumer protection will naturally fall into place, therefore allowing the free-markets to continue to work themselves out, as they always do. President Obama should collectively unite members from Congress, US Treasury, the Federal Reserve, the FDIC, and the SEC, therefore, creating a Regulatory Protection Agency that President Obama is seeking. This Agency will ensure that regulators and federal agencies do their jobs and never fall asleep again. Had these Agencies done their jobs, as they did back in 1991 with Citi's subprime issue, then it seems we would not be in this financial mess today.

Regulate the regulators and federal agencies, not the private market. This is common sense and logical. Think about it, had there been an overseeing agency of our regulators and federal agencies these past eight years, then someone would have seen people were asleep at the wheel. CUFFS should be the regulating agency overseeing the regulatory and federal agencies; therefore, never allowing our Leaders to fall asleep at the wheel ever again. The regulatory agencies let the children run amok. Whose fault is this?

In conclusion, if CUFFS does its job with the regulatory and federal agencies then it seems both consumers and the financial backbone of this country is protected; and President Obama comes out the hero because this is the common sense he promised his voters.

A consumer protection agency is a narrow minded solution to a gargantuan problem, which will fail future generations because the bigger picture will always haunt future generations if this is not done correctly now. CUFFS is a new era solution in my opinion.

Stay tuned...I have more to share. Just another day in the mortgage mess!