How many Fronts can the NAMB survie?

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Required reading:

http://online.wsj.com/article/SB119798901839036859.html?mod=googlenews_wsj

The staff proposal would also “generally” ban lenders from “directly or indirectly paying mortgage brokers in connection with consumer credit transactions secured by a consumer’s principal dwelling, unless the mortgage broker enters into a written agreement with the consumer” and provides certain disclosures. Creditors wouldn’t be banned from paying brokers if the compensation isn’t determined by the borrower’s interest rate (YSP).

Fed staff also are proposing to ban lenders from structuring traditionally “closed-end” mortgage products as “open-ended.” Fed staff believes this is necessary to prevent lenders from trying to evade the new protections.

The new proposal would apply to loans secured by the consumer’s principal dwelling where the annual percentage rate exceeds the yield on comparable Treasury securities (30-year now at 4.53%, 5-yr now at 3.50%) by at least three percentage points on first-lien loans, or five percentage points for second-lien loans.

So the axe is gonna fall, one way or another. What are we going to do about it?