Small lender groups split on deeper cover PMI – Scotsman Guide 10/4/16

October 4, 2016

As reported by Victor Whitman on Scotsmanguide.com,

‘Two small lender trade associations and frequent allies on issues related to housing finance reform have split on the idea of expanding the use of private mortgage insurers to cover the default risk of the nation’s most popular loan types.  The Community Home Lenders Association (CHLA) and the Community Mortgage Lenders of America (CMLA) disagree on whether it is a good idea to allow the private mortgage insurers to take on the lion’s share of the default risk on loans purchased by Fannie Mae and Freddie Mac.’

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CHLA in the News