Is Obama good for the mortgages? Has he helped us or hurt us?

teapartyexpress2010 - as if we don't have enough negativity to deal with in the press - do you have to assault us here too? As President Obama does not write legislation, it hard to hold someone responsible for those actions. Quite frankly, we are currently dealing with a clean up of past administrations misjudgment. Is the business tough right now: yes. Did we need some reform: yes. Will it get easier with time: yes. So to answer an over simplified question with a simple answer: yes.

I'm guessing by your screen name you're hoping to hear negative responses regarding Obama. Regardless of our personal beliefs or feelings, we are also professionals; with professionalism comes a responsibility to do our jobs and answer questions based on our area of expertise backed by facts, not opinions. We do not involve, or express, our political views in these kinds of forums as a result. Having said that, I agree with RWoodward's statements. President Obama is only one man and, while wielding a certain amount of influence, he is not as influential on our mortgage markets as our politicians in the House Financial Services Committee or Senate Banking Committee. Nor has he had nearly the effect, for better or worse, of even the Attorney General of New York on the mortgage industry. Bottom line is the system was broken before, and it's still broken. The only wish we'd have for those creating the legislation is that they take the time to actually understand the topic of mortgages and how the industry actually works before they try to change it. Statistically speaking, all the legislative and guideline changes have resulted in an increased cost to the consumer of nearly 37% year-over-year. My personal opinion is the loan process has become more cumbersome and more confusing than it needs to be, and some changes have created certain inequalities within the industry; on the other side of the coin, recent legislation has also weeded out a lot of "bad seeds" from the industry. The best thing that could happen for the mortgage and housing industries right now is an improvement in the jobs market. My hope is that any sitting politician will take the time to understand the issues they are voting on, and that they are successful in achieving common and equally beneficial goals.

PLEASE DON'T FEED THE TROOLS!