FHA Commissioner David Stevens wrote to the industry today . He discusses over exuberant underwriting standards, lender accountability, and sustainable homeownership. Below are his comments. I called attention to specific points of interest... ------------------------------- After touring the country and talking to lenders over the past few weeks, I think it is important to take a moment and emphasize to all lenders the important role they play in this housing market, particularly in their role as responsible stewards of underwriting quality loans that will perform sustainably over time . In some cases I am seeing activities that reflect an over exuberance in the marketplace to find ways to increase loan origination revenues . Some may say it’s only “a few opportunistic lenders...(read more)

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