Today the Community Home Lenders of America (CHLA) wrote a letter requesting $6.6 million in funding for the FHA Catalyst Information Technology (IT) initiative in… Read More »CHLA Requests $6.6 Million in FHA IT Funding in FY 2023 THUD Appropriations
Community lenders might be able to transition to a new provider, but doing so requires an investment in time that could be hard on them financially.
Scott Olson, executive director of the Community Home Lenders of America, called for a more flexible PTAP that small and mid-sized issuers could access in more normal circumstances, not just during a national economic crisis.
CHLA Executive Director Scott Olson opposes the extension of the Community Reinvestment Act to independent mortgage banks.
Responding to a request for comment, CHLA Executive Director Scott Olson this week said that since writing to the DOJ, CHLA has “heard from multiple small and mid-sized independent mortgage banks about the risks this merger could pose for consumers, both with respect to pricing and tying concerns that could be created by such an increase in market concentration.”
CHLA Letter Identifies Alternative Approaches to Address Liquidity and Going Concern Issues