The Real Deal Miami

MBA objects to proposed HUD interpretations

March 10, 2010 10:53AM

The Mortgage Bankers Association, the real estate finance trade group, filed a letter this week with the
Department of Housing and Urban development expressing its
displeasure with several proposed HUD interpretations that would, in
its view, excessively restrict mortgage financing operations. The
letter proposed a revision to ensure that states would not be required
to regulate actors other than loan officers for lenders and mortgage
brokers. The MBA wished to have other workers, like employees and
contractors involved in servicing and loss mitigation be excluded from
regulation. The MBA has several of its own proposed regulations scheduled for hearing soon. [Housing Wire]