from Minnesota Congressman Michele Bachmann
Well, lo and behold: Just yesterday, the House passed – with Chairman Frank’s vote -- the Helping Families Save Their Homes Act with a provision that sets new eligibility requirements for lenders to be approved Federal Housing Administration (FHA) lenders. One of the standards is that the lenders may not employ individuals that are “under indictment for, or have been convicted of, an offense that reflects adversely upon the applicant’s integrity, competence or fitness to meet the responsibilities of an approved mortgagee.” This was in both the original House-passed bill and yesterday’s Senate version. There’s no blaming this on a compromise with the Senate.
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