Comment on CFPB-2012-0032-0005

What is rather difficult to comprehend is the fact that the new changes and regulations we have gone through have definitely brought forth fantastic new changes to better assist with managing the change in our marketplace and mortgage industry as a whole. This being said, regulation is certainly needed however the constant change in regulation; the tightening of regulation and now providing further regulation that is a bit beyond what would or could be needed is debilitating to the industry as a whole. Mitt Romney said it best at the debate on Wednesday when he commented, "It's been two years. We don't know what a qualified mortgage is yet. So banks are reluctant to make loans, mortgages. "Try and get a mortgage these days. It's hurt the housing market because Dodd-Frank didn't anticipate putting in place the kinds of regulations you have to have. It's not that Dodd-Frank always was wrong with too much regulation. Sometimes they didn't come out with a clear regulation." With the knowledge that the housing industry in this country has accounted for more than 40% of the recovery our country benefited from throughout previous recessions. Granted, regulation is needed; unlike the deregulation and belief that everyone can and should qualify for a home as brought forth with various exotic and destructive lending. In consideration of this, further regulation can further hinder this country's effort to recover efficiently thus providing reason for the downward spiral we are in to further continue, leading our economy to continue to crumble.