A litany of mortgage industry players spoke in Washington Wednesday about the challenges of doing business in the current housing market.
Additionally, they told the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity, new regulations are doing more to kill their line of work, than to preserve it.
Changes to the current Federal Housing Administration requirement of 3.5% down on home purchases, is a clear example of this well-meaning, yet misguided directive coming from inside the Beltway, they said.
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