This Friday, April 1 is Finreg implementation day for the mortgage industry. What bank lobbyists sold to Dodd and Frank as consumer protection is a clever way to increase profits: the new rules change almost nothing about banks’ secondary market and trading operations, and mandate a new loan agent compensation model that gives banks the option to pay loan agents less.
So this installment of bTunes, Westbound Train, is to calm frayed loan agent nerves as we all scramble to understand Friday’s implications. It’s dubbed down funk (with an Al Green tribute) from Will Holland, a British soul, funk, breakbeat, and Latin jazz virtuoso. He mainly goes by Quantic but Flowering Inferno is the band he used to put out Death Of The Revolution, the album this song is from. The entire album [iTunes] will help you think clearly before and after April Fool’s Day, when the Finreg train moves West from DC regardless of the revolution in your mind. So listen up, chill out, and start looking for the smart banks that understand the consumer AND the loan agent.