Mortgage Bankers Association - "MBA Testifies Before Senate: Market is Working, Benefiting Consumers and Increasing Homeownership" (2-7-07)

“MBA is concerned that approaches such as rigid, new underwriting standards and the imposition of suitability requirements will rollback hard fought homeownership and fair lending gains and will stifle innovation and take good financing options out of the hands homeowners, limiting consumer choice. The effect will be to reduce available and affordable credit, undermining our mutual goal of putting Americans in homes and keeping them there. The mortgage market has performed well for consumers and for the larger economy and any policy that is not based on sound facts has the potential to undermine these benefits.”