Bank Reform Bill to Boost Mortgage Availability: NAR
May 24, 2018 / Donna Fuscaldo
The bank reform bill aimed at rolling back regulations from the Dodd-Frank, Wall Street Reform and Consumer Protection Act has won the support of the National Association of Realtors (NAR), which said that it will bring much-needed relief to the banking market and increase the availability of mortgages. Earlier this week, the House voted to pass the bill that was approved by the Senate in March. With President Donald Trump repeatedly expressing animosity toward the Dodd-Frank Act, it's likely that the new bill will become law when it lands on his desk. And while critics contend the repeal of the act will enable Wall Street to go crazy again, conservatives, the banking industry, and the real estate market are applauding it. After all, once the bill becomes law, smaller banks will be able to lend more and that includes mortgages.