Every time a rule is made regarding loans it affects the pay of everyone in real estate. HVCC killed many transactions. New underwriting guidelines make loans for self employed borrowers near impossible. FHA increased MI premiums (they go up again soon!) make it more expensive for people to buy a home. Now it is over regulation of brokers who cost consumers up to 2% less than big banks.
Why is the Fed speding so much money overregulating brokers when broker loan products and services are more consumer friendly? Prices for loans will increase and it will make it harder for real estate agents and others in the real estate business to close transactions.