NAMB Executives to Meet with FHA Commissioner

Top executives from the National Association of Mortgage Brokers are set to meet with the new Federal Housing Administration commissioner on Aug. 19 over a plethora of issues. These include "Kiddie Condos" where a parent's credit is used (according to one trade group memo) for loan qualification purposes. A copy of the meeting's agenda was provided to National Mortgage News by an industry source. NAMB also hopes to discuss with FHA commissioner David Stevens the new RESPA rule and how it will affect the agency's use of origination and discount points. Also possibly on the agenda: implementation of risk based pricing rules, and the possible involvement of the Government National Mortgage Association in warehouse lending. A spokesman for NAMB confirmed that the meeting is set but said the agenda has not been finalized.