Comments on: H.R. 1728, Mortgage Reform Act Moves Through House http://lenderama.com/2009/05/08/hr-1728-mortgage-reform-act-moves-house/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Fri, 19 Mar 2010 20:00:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Bob http://lenderama.com/2009/05/08/hr-1728-mortgage-reform-act-moves-house/comment-page-1/#comment-4254 Bob Thu, 11 Jun 2009 19:45:00 +0000 http://lenderama.com/?p=2528#comment-4254 Predatory lending legislation, just like this was in effect in all 50 states prior to the debacle that took place. These same people who are advocates of these changes were the ones who took the power away from the states and the protection for those by saying that since they they were federal loans the state's protection laws did not apply. <br><br>Now they are acting like the "Lone Ranger and Tonto" to save the day, under the rubric of Federal legislation. Ladies and Gentlemen, we are regulating the wrong industry. We need to regulate the Congress and the Senate. These are the people that have gotten fat by creating havoc! <br><br>Definition of insanity: Doing the same thing over and over and expecting different results. Predatory lending legislation, just like this was in effect in all 50 states prior to the debacle that took place. These same people who are advocates of these changes were the ones who took the power away from the states and the protection for those by saying that since they they were federal loans the state's protection laws did not apply.

Now they are acting like the “Lone Ranger and Tonto” to save the day, under the rubric of Federal legislation. Ladies and Gentlemen, we are regulating the wrong industry. We need to regulate the Congress and the Senate. These are the people that have gotten fat by creating havoc!

Definition of insanity: Doing the same thing over and over and expecting different results.

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