twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map

Political Mortgage News | Mortgage Laws
Mortgage people in politics. Political contributions by mortgage companies. Coverage of political support by lenders and executives. GSE lobbying and issues.

NY Broker Running for US Congress

Bruce Hirschfeld running for NY representative post

Feb. 12, 2010


A New York mortgage broker hopes to represent some of the voters in his city as a U.S. Representative. The Democrat supports more regulation of Wall Street, opposes the Home Valuation Code of Conduct and wants illegal immigrants brought out of the shadows.

Bruce Hirschfeld is running for Congress in the 12th Congressional District of New York, according to a statement from his spokesman. If ultimately victorious, he would represent constituents in parts of Brooklyn, Manhattan and Queens for two years.

The Democrat is president of Montvale Mortgage LLC in Hackensack, N.J. He founded the company in December 2002.

The company says it is certified as an UpFront Mortgage Broker, which "assures customers fair treatment in all dealings." UpFront brokers say their interests are fully aligned with customers' -- and they disclose wholesale pricing to loan prospects, guarantee their fee quotes and provide clear explanations of lock requirements.

Hirschfeld has been in mortgage lending for 25 years, he told in a phone interview. He noted that "everything was fine up until November of '07," when the whole mortgage industry fell apart.

Hirschfeld said he would be required to relinquish his post as Montvale's president and get out of the mortgage industry if he becomes a federal legislator -- though he probably won't shut down the company. He has no plans to leave the industry if he doesn't win.

photo of Bruch Hirschfeld
Bruce Hirschfeld in campaign ad

In response to a question about how his background as a mortgage broker prepares him to be a congressman, he noted that the U.S. constitution intended for the House of Representatives to be occupied by "ordinary men." He said his mortgage background doesn't relate to being a congressman.

"There really is no on-the-job training that would prepare you for a seat in the House of Representatives," Hirschfeld stated. "Nor do you really need one."

But the candidate noted that although he isn't knowledgeable about the military or health-care, "you read as much as you can read and then you have to rely on the people that you hire to give you the correct information."

While the New Yorker wasn't familiar with the Consumer Financial Protection Agency being proposed in the Consumer Financial Protection Agency Act, he did indicate he is in favor of more regulation of Wall Street firms -- which he identified the culprits of the meltdown.

Hirsch called the HVCC "a reactionary measure that Andrew Cuomo came up." He pointed to the higher appraisal fees and lower quality reports that are hurting borrowers and noted that a repeal of the code is in the works.

Hirsch indicated he is in favor of health care, though he isn't in favor of the current bill -- which he'd prefer to see done in smaller phased-in pieces than in a single piece of legislation.

He called for a clear immigration package.

"We need an immigration package that does bring the illegals out of the shadows, and does it in a meaningful way -- with a good fine for coming here illegally but also grants them a path to citizenship," Hirschfeld said.

If Hirschfeld wins the Democratic primary election in September, he would face a November general election. The winner of the general election heads to Washington, D.C., the following January to begin the term as U.S. Representative.

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of in 2000.

[email protected]

Mortgage Broker News | Originator Newsletter
Stories about mortgage brokering and broker programs. Profiles of successful mortgage brokers. Articles about mortgage brokers who excel at other activities. Broker lawsuits and criminal broker activity.

Appraisal News | AMC Directory
Appraisal industry news coverage, including stories about independence requirements, AVMs and appraiser fraud.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders