Wednesday, September 02, 2015

Wonder if the people always screaming about Republicans and crooked businessmen

will scream as loudly- if at all- about this?
But on Tuesday, Secretary Julián Castro's housing agency proposed modifying the required certification in a way that would apply only to HUD-registered lenders. The lenders' parent companies wouldn't be on the hook, thus seemingly enabling Citi and JPMorgan's HUD-registered units to continue certifying that they haven't pleaded guilty to federal antitrust charges.

Castro's agency in May had initially proposed deleting the requirement altogether. The agency slightly retreated following criticism from three powerful Democratic lawmakers: Rep. Maxine Waters of California and Sen. Sherrod Brown of Ohio and Sen. Elizabeth Warren of Massachusetts, who had argued that the housing agency was trying to "make it easier for lenders who have engaged in illegal behavior" to continue participating in the federal mortgage insurance program.

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