Hey, NAR, Sit Down and Shut Up and Get out of Our Banking, you do Enough Damage to the Consumer Right where you are. Attention: NAR, Butt Out.
Hey, NAR, Sit Down and Shut Up and Get out of Our Banking, you do Enough Damage to the Consumer Right where you are. Attention: NAR, Butt Out.
The Latest on The Realtors Stomping their Feet to Get their Way.
Realtors® Recognize Importance of Keeping Big Banks Out of Real Estate
WASHINGTON, February 02, 2009
Allowing large national banks to enter into real estate brokerage and property management could be devastating to the safety and security of the nation’s economy, which is why the National Association of Realtors® has been calling for legislation that would permanently ban banks from entering into real estate transactions.
“We thank Sens. Barbara Boxer, D-Calif., and Richard Burr, R-N.C., for their leadership in introducing legislation to prevent big banks from expanding their business to act as real estate brokers and managers,” said NAR President Charles McMillan.
During the introduction of the Community Choice in Real Estate Act on Friday, Sen. Boxer said, “Permitting banks to engage in commerce could compromise their lending decisions and create conflicts of interest while restricting consumer choice and competition among mortgage lenders.”
Some national banks had petitioned the federal government for the power to own and operate local real estate brokerage or property management companies.
Since 2003 language has been included in annual appropriations bills to temporarily block implementation of these actions. The Community Choice in Real Estate Act would make the prohibition permanent.
“Imagine how much worse the crisis in the financial sector and our overall economy would be if banks had been permitted to enter into commercial activities such as real estate,” Charles McMillan said.
“We hope that Congress will work quickly to close any loopholes and pass laws that maintain the separation of banking and real estate and protect our nation’s economy from unnecessary and avoidable risks.”
NAR needs to Stay Out of Congress, to Stop fighting agains the real estate consumer. The National Association of Realtors fights daily to keep the consumer down and make sure that you Believe you need a Realtor in Your Real Estate Transaction and that Having a Realtor offers more protection, somehow. You do not need a Realtor in Modern Media, Using a Realtor causes more harm then good,
If Banks were in Real Estate and Realtors and Mortgage Brokers were out, it may not be perfect but hey, there would be a whole lot less hands out, and the Banks already know your personal financial business, there is no way around it. I think you would have more privacy if banks were in real estate because the Realtor and the Mortgage Broker would not have so much of your personal information or the ability to drive your credit down.
realtors
Crystal L. Cox
Broker Owner
www.RealEstateIndustryWhistleblower.com
Broker Owner
www.RealEstateIndustryWhistleblower.com
realtor
