I don’t know how many folks are following the legislation, but there was an interesting article in the Wall Street Journal regarding the new legislation.  Under the pending legislation banks would be required to maintain a “risk” portion of the loan for at least the first two years.  Wells Fargo has proposed altering the legislation so that borrowers would put down 30% in order to not retain a risk portion for the bank and tie up their liquidity.  This proposal poses serious issues for the housing market.  If borrowers are required to put 30% down this will greatly reduce  the value of properties most buyers can afford.  This is definitely interesting legislation that all of us need to stay tuned to.

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