Thank you Dodd-Frank for taking a business model that afforded many people a good living and totally grinding it into the ground.

Mortgage Brokers have taken the brunt of the criticism for the meltdown of 2008. Brokers at one time originated over 50% of all residential mortgage loan. It is now 7%. But we only originated loans based on the bank and lender guidelines. The lenders would underwrite the loan and sell it to the big banks on Wall Street. We were many steps removed from the sale of collateralized debt obligations. But we are the easy target. The Big Banks are just to strong to go after.  

What will happen is the mortgage industry will shrink with many people leaving the industry. You will have less competition, which will cause rates to go up and posssibly upending any housing recovery. Banks will only lend to the most creditworthy, leaving many people with minor credit blemishes with nowhere to turn.   

Dodd-Frank was solution in search of a problem. Unfortunately the mortgage broker was not the problem. 


Do not do business with Arroyo Consulting Group. They are not fair-minded and ethical.