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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
September 13, 2000
#00-104 |
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E-mail:
[email protected] |
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ACB, OTHERS OPPOSE CAP ON MORTGAGE PARTNERSHIP PROGRAMS
The attached letter by eight banking and housing finance groups is for your use in connection with the markup today of the fiscal 2001 VA, HUD Independent Agencies appropriations bill by the Senate VA, HUD Independent Agencies Subcommittee.
The letter to members of the subcommittee strongly urges them to oppose imposing a cap on the amount of Federal Home Loan Bank Mortgage Partnership program loans. “The program increases the capital available for mortgage lending and provides commercial banks and thrifts competitive alternatives in the secondary mortgage market,” the groups said. “This increased competition translates into better rates and ultimately lower prices for homebuyers.”
The request to subcommittee members was made jointly by America’s Community Bankers, the American Bankers Association, the American League of Financial Institutions, the Consumer Bankers Association, the Consumer Mortgage Coalition, the Council of Federal Home Loan Banks, the Financial Services Roundtable and the Independent Community Bankers of America.
ACB’s letter is LINKED
America’s Community Bankers is the national trade association committed to shaping the future of
banking by being the innovative industry leader strengthening the competitive position of
community banks. To learn more about ACB, visit
www.AmericasCommunityBankers.com.
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America’s Community Bankers
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