""Lenders One Mortgage Cooperative"":http://www.lendersone.com recently sponsored the Third Annual Lenders One Legislative Summit in Washington, D.C., to give its mortgage banker members an audience with federal housing agencies and lawmakers.
p{=margin-bottom: 0in}. The summit gave members an opportunity to hear from and speak with representatives from Fannie Mae, the Federal Housing Administration (FHA), and other housing experts on Capitol Hill, to discuss such topics as the financial health of FHA and whether the GSEs should be privatized. Lenders One also helped members arrange meetings with congressmen and senators from their respective states.
p{=margin-bottom: 0in}. Scott Stern, CEO of Lenders One, commented, ""Providing our members with this kind of access to federal housing agencies as well as lawmakers, gives us the opportunity to have our position on important housing issues heard by the people who are now playing a major role in how we conduct business. People inside the beltway get to hear what is really happening on Main Street.""
p{=margin-bottom: 0in}. According to Lenders One, its members shared their concerns about diminishing warehouse lines of credit and encouraged policymakers to send a a bipartisan letter to the Federal Reserve regarding the matter. Lenders One members also advocated full funding for FHA and a permanent increase in the multifamily loan limits for structures with elevators, as well as loan limits for single-family homes. Another area which members addressed was raising GSE loan limits and extending their credit facility.
p{=margin-bottom: 0in}. ""Lenders One"":http://www.lendersone.com is a national alliance of mortgage bankers headquartered in St. Louis, Missouri. With more than 125 members originating $40 billion in mortgage loans annually, the Lenders One alliance ranks as the ninth largest mortgage originator in the United States.