On Feb. 2, I e-mailed more than 50 industry leaders and fellow credit union CEOs throughout the country about FHA-available loans being misused as a selling point in strategic defaults. I hoped someone with some clout (I have zero) would take up the cause. Within an hour of my e-mail, NAFCU President, Fred Becker, responded and began working on the issue. NAFCU continues to keep the issue active.
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I thank Fred Becker and NAFCU for taking the lead in trying to close the FHA loophole.
Dale Kerslake President/CEO
Cascade FCU, Kent, Wash.
