On October 8, 2009, John Councilman, CMC, CRMC, the FHA Committe Chairman for the National Association of Mortgage Brokers addressed the Committee on Financial Services, Subcommittee on Housing & Community Opportunity of the United States House of Representatives.
He expressed concerns about the recent decision to essentially remove mortgage brokers from the FHA lending process. Councilman also offers the NAMB's opposition to the HVCC saying:
"NAMB strongly opposes FHA's decision to follow in the footsteps of the HVCC, given its glaring weaknesses and failures in the short time since it has taken place."
Attached is a copy of Mr. Councilman's prepared testimony. Certain segments pertaining to his specific testimony on the HVCC have been highlighted.
Kudos, Mr. Councilman. You get it!!
Click here: 2009-10-08 - HFSC Housing Community Opportunity Subcommittee Testimony _FHA_ FINAL-APPENDIX A.pdf