WILL TRUMP HAVE A
POSITIVE EFFECT HOUSING REGULATIONS?
Although it is too soon to tell, one thing is certain, Trump
has openly stated his belief that the financial industry, and housing in
particular, is over-regulated and that he plans to overhaul the Dodd-Frank Act
of 2010, which the Obama Administration considers to be one of its greatest
victories. Trump, a real estate entrepreneur by trade, has made it clear that
he will review all regulations that the Obama Administration put in place.
At a minimum, the Trump administration has the chance to
decriminalize administrative over-regulation and foot-faults, which could allow
lenders to remove credit overlays and leverage government lending programs to
their fullest and intended public policy purpose to benefit qualified home
buyers.
Since Trump is a businessman, some view his election as a
major victory for banks; Dick Bove, VP of equity research at Rafferty Capital
Markets, told CNBC that the election of Trump a “grand slam home run for the
industry,” saying that banks will benefit from legislative, regulatory, and
economic standpoints, since Trump has said he plans to roll back key financial
regulation passed by the Obama Administration.
We shall see....
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