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What does the Dodd Frank mortgage regulation mean for buyers and sellers?

August 24, 2015 2:08 pm

What does the Dodd Frank mortgage regulation mean for buyers and sellers? Signed into effect in July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act is the result of the Great Recession and an effort by lawmakers to protect consumers by regulating banks and other financial institutions. What does the Dodd Frank mortgage regulation mean for buyers and sellers? Simply stated, it means longer escrow periods. If you’re planning on buying or selling a home after October 1, 2015, your escrow may be 45 instead of 30 days due to regulations that go into effect for real estate transactions that involve a home loan. If you’re planning to buy or sell a home, we recommend allowing for the... View Article