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Supplement with Support for Kanjorski's Escrow, Appraisal, and Mortgage Servicing Improvements Act |
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Supplement with Quotations of Support for and List of Groups Supporting Congressman Kanjorski's Escrow, Appraisal, and Mortgage Servicing Improvements Act:
"Appraisal inflation is the dirty little secret of the lending industry and is one of the primary reasons millions of families are facing foreclosure. We commend Congressman Kanjorski and Attorney General Cuomo for addressing a problem that nobody likes to talk about but, in many ways, triggered the sub-prime time bomb. When the bottom falls out, borrowers are left in upside down mortgages where they owe more than the home is worth. Many sub-prime borrowers are finding themselves in just this situation. In the end we all lose."
--John Taylor, President and CEO, National Community Reinvestment Coalition
"Consumers have a right to expect the highest standards from mortgage lenders and mortgage professionals. Appraisal valuations must be accurate and free of influence. Chairman Kanjorski's appraisal reform efforts will help restore confidence in the nation's mortgage finance system and create a stable foundation for valuation in the housing market. On behalf of the nation's independent mortgage bankers, we are pleased to support H.R. 3837."
-- Scott Stern, Co-Chair of National Alliance of Independent Mortgage Bankers
Current list of groups supporting H.R. 3837:
Appraiser Groups
American Society of Appraisers
American Society of Farm Managers and Rural Appraisers
Appraisal Institute
National Association of Independent Fee Appraisers
Industry Groups
National Alliance of Independent Mortgage Bankers
National Association of Mortgage Brokers
National Association of Realtors
Consumer and Housing Groups
Affordable Housing Corporation of Lake County
Association of Community Organizations for Reform Now (ACORN)
Center for Responsible Lending
Ecumenical Social Action Committee
HOPE, Inc.
Housing Opportunities Forth Worth
Housing Partnership Network
Mon Valley Initiative
National Community Reinvestment Coalition (NCRC)
National Consumer Law Center
National Council of La Raza (NCLR)
National NeighborWorks Association (NNA)
Nazareth Housing Services
Rainbow-PUSH
Rock Island Economic Growth Corp.
Rockford Area Affordable Housing Coalition
Victory Housing Development Fund Co., Inc.
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