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Mortgage Market Armageddon
Minnesota and other states are enacting punitive laws regarding mortgages and mortgage brokers. These laws are reducing certain mortgage product availability. This in turn is actually increasing the housing downturn by reducing the number of available home buyers and thereby accelerating the number of foreclosures. In addition, Federal laws trump State laws. Federally chartered lenders-ie big banks-are able to avoid compling with onerous new state laws. A two tier system creates an uneven playing field and reduces a consumer's choices and limits options. (PRWeb Aug 10, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/SGFsZi1GYWx1LVBpZ2ctSGFsZi1UaGlyLVplcm8=