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This Political Fight Is a Big Threat to Fixing the Mortgage Market

Wednesday, May 31, 2017
Joe Light | Bloomberg Politics
Michael Calhoun

The proposal “would hurt rural and working families across the country,” said Michael Calhoun, president of the Center for Responsible Lending. He said Stegman’s proposal in effect abandons the affordable housing goals and waters down the companies’ duty to serve all markets. One problem not addressed in Stegman’s plan, Calhoun said, is how to prevent new housing-finance models from charging more to less-well-off borrowers than to rich borrowers.