Dodd-Frank Still Stalling Economy – Bruce Bialosky – Page full

2011-05-12T161658Z_01_WAS911_RTRIDSP_0_FINANCIAL-REGULATION-TESTIMONYIf the lender Koevary chooses moves their pricing or another lender becomes more attractive he must obtain a new appraisal for that new lender thus doubling the cost. Koevary told me that the big banks now control a lot of the third party appraisal procurement companies which ultimately gives them the control over the appraisers contrary to the laws intent. This is driving business to the banks and cutting out the brokers or other small players.

An additional;unintended consequence of a bill that was supposed to lessen the control of big lenders has shrunk the amount of lenders and greatly enlarged the share of the market for big players.

via Dodd-Frank Still Stalling Economy – Bruce Bialosky – Page full.

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