What did the Dodd-Frank Act do?

Lack of regulation, irresponsible mortgage lending that brought about a wave of foreclosures, and the packaging of those bad mortgage loans into investment products sold as safe investments to unwitting buyers resulted in the Great Recession of 2008.

The Dodd-Frank Act was signed into law in 2010 in response to the actions that sparked the financial crisis. The law was passed for four primary purposes.

1. To promote financial stability
2. To improve accountability and transparency in the U.S. financial system
3. To end the perception of some financial institutions being “too big to fail”
4. To protect American consumers from abusive practices by financial service providers

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Margaret Smethers
[phone] direct
NMLS: 907016 | CA DRE: 02106385

2157 Country Hills Dr, Suite 205
Antioch, CA 94509
NMLS ID: 1770437 | CA BRE: 02073759

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact E3 Home Loans for more information.