Credit-worthy borrowers are being denied a chance at home ownership due to "unnecessary regulatory burdens" that are preventing
them
from qualifying for a mortgage, leaders testified Thursday before the U.S. Senate Banking, Housing and
Urban Affairs Committee. "REALTORS®
support strong underwriting standards to protect consumers from the
risky lending practices of the past, but we are concerned that the
pendulum has swung too far." In some cases, well-intentioned,
but over-corrective policies are severely hampering the ability of
millions of qualified buyers to purchase a home. Our members believe, that we have yet to strike the right balance between regulation and opportunity." Mortgage rates continue to hover near historical lows,Read more.
No comments:
Post a Comment