Mortgage bankers said they hoped their recent pact with HUD might help relieve some of the increasing pressure to subject them to the Community Rein-vestment Act, but with Congress set to readdress the issue Sept. 29, the pact is likely to serve as a remedial fair lending lesson rather than the industrys saving grace.

The Mortgage Bankers Association and the Department of Housing and Urban Development signed the Fair Lending Best Practices Master Agree-ment Sept. 14 that will span the next three years. Under the terms of the ac-cord, HUD and MBA agreed to under-take, continue, or facilitate during the next three years ... to provide support and technical assistance to each other.

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