Harlan B. Griswold III’s Blog

An article in the Sunday paper of the Contra Costa Times, written by Kenneth Harney (Nation’s Housing), writes about a loophole in the new lending regulations, allowing them to not give a good faith estimate upon a new loan application.    http://www.contracostatimes.com/search/ci_14193760?IADID=Search-www.contracostatimes.com-www.contracostatimes.com

He suggests that loan brokers are taking advantage of this “mistake” in the new regulations, to not disclose fees.  However, it appears that this is another example of the unintended consequence of new laws, once again turning out to be counter-productive.  Read the rest of this entry »

I may have helped this become a reality

Of my many complaints about adverse changes in the real estate industry, my number one complaint has been buyers being forced by banks to use No Name Escrow companies.  These (bank (REO) chosen) escrow companies were often far away, usually in S. California and they provided terrible service and delayed escrows.   So, I was shocked and angered when CAR, our Realtor organization, issued a “red alert” opposing bill AB 957, which gives the buyer the right to choose escrow.   I couldn’t believe it. Read the rest of this entry »