2010-12-07 — nationalmortgageprofessional.com
"In the comment letter, MBA President and CEO John Courson expresses concern that the proposed rule would penalize responsible lenders by requiring them to indemnify for loans regardless of cause or materiality and without a well-defined, clear and transparent appeals process. The letter notes that such increased risk could discourage lender participation in the FHA program and could cause lenders to further tighten their own guidelines for underwriting FHA loans."
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