Somthing to write congress about.

I spend a LOT of time talking to mortgage pros across the country. I run across stuff like this all the time and I thought I'd share.

_______ Mortgage Services, Inc. began its operations in 1999. For over twelve years we successfully originated conventional, FHA and VA residential mortgage loans in the Washington Metro area. We were profitable every year except our first. As of March 31, 2011 we had significant assets and no debt. Of the thousands of loans we originated, funded and sold into the secondary mortgage market, only two went into foreclosure. Just as importantly, Signature never had to re-purchase a single loan from the secondary market due to impropriety on the part of a consumer or a _________ Mortgage employee.

Unfortunately, Congress and the Federal Reserve think they know best how to run businesses and how to manage consumer markets. Beginning April 1, 2011, the Dodd-Frank legislation and resulting federal regulations seriously restrict the ability of small mortgage companies to offer consumers competitive pricing and flexibility on any mortgage program. Rather than offer limited product and pricing options to our customers, we made the corporate decision to cease operations.

How sad is that?! People working hard get the shaft by the government so that the "elected" officials can help their friends out by sending more business towards the big banks (who in turn finance these corrupt political campaigns.) Make sure that you do your part by NOT sending your business to the large banks!