5 Processing & Closing Now that you've found a home, it's time for your loan officer to order an appraisal for the property. The VA requires homes to be move-in ready and any problems with the property generally have to be corrected by the seller before a loan closes.
The full name of the bill is the Dodd-Frank Wall Street Reform and Consumer Protection Act, but it is better known and most often referred to as Dodd-Frank. In simple terms, Dodd-Frank is a law that places major regulations on the financial industry. It grew out of the Great Recession with the intention of preventing another collapse of a major financial institution like Lehman Brothers.
After Five Years, Dodd-Frank Is a Failure. The law has crushed small banks, restricted access to credit, and planted the seeds of financial instability. July 19, 2015 5:50 p.m. Tuesday will mark five years since President Obamaâs signing of the Dodd-Frank law, the most sweeping rewrite of the countryâs financial laws since the New Deal. Mr. Obama told the country that the legislation would âlift our economy.â The statute itself declared that it would âend too big to failâ and âpromote financial stability.â.