May 23, 2007

Mortgage leader blames some lenders for meltdown

John Robbins, chairman of the Mortgage Bankers Association, says he is “mad as hell” at “a few unethical actors” that have sullied his profession’s reputation, amid increasing evidence of financial distress for homeowners with weak, or subprime, credit histories.

In prepared remarks for a lunchtime speech in Washington, Robbins called for a national licensing system for mortgage brokers, which would help weed out “scam artists.”

See the entire article at:  http://www.ocregister.com/ocregister/money/subprime/article_1703310.php