Recently I read this article and it reminded me of the most feared words- "We're from the federal government and we're here to help."

What gets me is the same federal government with all their wisdom and all their departments and systems and processes that created the housing/lending bubble in the first place has proposed, and is aggressively implementing, plans they claim will prevent the same or similar things from happening in the future. In order to accomplish their claim they had to create several new departments and divisions with nearly one thousand new employees and roughtly $630 million in initial budgets. All the while the burden on consumers, citizens and businesses continues to increase.  

Call me crazy but I'm doubtful of not only their claim but of their ability even if their claims are true. Believing the same people who created the problem will be the ones to fix the problem is what's crazy. This whole debacle reminds me of one of my favorite Ronald Reagan quotes from his 1st inaugural address "In this present crisis, government is not the solution to our problem; government is the problem."

I'm not sure if you've applied for a loan lately but to give you an idea of the disclosures required for a VA Loan see the list below and expect more changes after August 1st.

As of yesterday the disclosures consisted of 49 disclosures making up 79 pages total. Keep in mind this does not include the real estate purchase contract or any of its required disclosures.

* Homeownership Counseling List

* CFPB Settlement Booklet

* Definition of Truth-in-Lending Terms

* HUD/V.A. Addendum to Uniform Residential Loan Application

* Acknowledgement of Receipt of Good Faith Estimate

* Federal Truth-in-Lending Disclosure Statement

* Borrower's Certification and Authorization ENG

* Credit Authorization

* Borrower Acknowledgement of Floating Rate

* Acknowledgement of Intent to Proceed

* V.A. Amendatory/Escape Clause

* V.A. Counseling Checklist for Military Homebuyers

* V.A. Debt Questionnaire

* V.A. Nearest Living Relative Not Living with You

* Verification of V.A. Benefits

* VA 26-0503 Federal Collection

* VA 26-1880 Eligibility Certificate

* VA Childcare Letter

* VA Contract Amendment

* VA Rate Disclosure

* Home Ownership Counseling Acknowledgement

* Borrower's Certification & Authorization

* Appraisal Report for Lender's Use Disclosure (Dodd-Frank)

* Social Security Administration Authorization

* USA Patriot Act Information Disclosure

* Notice of Right to Receive Copy of Written Appraisal/Valuation

* Hazard Insurance Authorization, Requirements and Disclosure

* FHA/V.A. Notice to Applicants

* Rights of V.A. Loan Borrowers (Important Notice)

* Itemization of Amount Financed

* Servicing Disclosure Statement

* Notice to Right to Copy of Appraisal

* FL Statement of Anti-Coercion

* FL Notice to Purchaser-Mortgagor

* 1003 – URLA

* Disclosure Notices

* FACT Act Disclosure

* Flood Hazard Notice

* Flood Insurance Disclosure Addendum to Servicing Disclosure Statement

* Funding Suite Borrower's Authorization

* Good Faith Estimate

* IRS 4506T - Request for Transcript of Tax Return

* Loan Application Counseling

* Patriot Act Information Form

* Privacy Policy Pg1

* Privacy Policy Pg2

* Re-Score Disclosure Agreement

* Settlement Services Provider List

* 2010 Itemization