I talk to dozens of mortgage professionals each month and without even asking, I get an earful about too much regulation in the residential finance/servicing industry. And at the same time quite a few admit that regulation was too loose during the ‘Subprime Go-Go Years’ of 2000 to 2007. (They blame Wall Street.) But across the board, executives and their consultants and analysts will say that post-housing crisis, the regulatory pendulum has swung too far in the other direction. In short, they blame the president: Barak Obama. This week the Republican National Committee holds its convention in Florida. It’s not clear how many mortgage professionals will be in attendance. I would assume that on the lending side they’re too busy processing refinancings. But when it comes to the November election I would estimate that 75% of management level executives and higher will pull the lever for the GOP.
