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.
H.R. 4173 (111th): Dodd-Frank Wall Street Reform and Consumer Protection Act. The text of the bill below is as of Jul 15, 2010 (Passed Congress/Enrolled Bill). You are reading a bill enacted 2,443 days ago. In the intervening time subsequent legislation may have amended or repealed the provisions below. We have a summary of this bill which will help you make sense of what you see below.