Not entirely cherishing their memories of Jack Kemp as secretary of Housing and Urban Development, mortgage industry leaders are unsure about what a Kemp vice presidency might mean for them.

Even as news of his impending nomination as Sen. Bob Dole's running mate galvanized the Republican Party's convention in San Diego, mortgage lenders recalled him as a controversial and often unpopular advocate of flat taxes without mortgage deductions, low interest rates regardless of inflationary costs, and restrictions on Federal Housing Administration loan insurance.

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