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HUD Director Concerned About Legislators Overzealous Attention To Reverse Mortgage Industry

I came across a great quote from Meg Burns at the recent Mortgage Bankers Association’s Government Loan and Housing Production Conference in Washington, D.C.

“I have grave concerns about the overzealous attention by legislators to the reverse-mortgage sector.  Federal regulators are going to pay attention, but they don’t know the product.  We have yet another party entering this world who wants to layer on additional consumer protection, but they don’t understand the product well enough-[and yet] we have auditors nipping at our heels.”

Meg Burns – Director, Single Family Program Development, Department of Housing and Urban Development

Thank you Meg Burns…  while I may not like how your attorneys interpret housing Bills, we certainly share the same concerns.  More on this later…

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