The trade group for mortgage brokers said a Department of Housing and Urban Development proposal goes "too far" in transferring all supervision of brokers to Federal Housing Administration-approved lenders.

The National Association of Mortgage Brokers wants HUD to continue setting standards for loan correspondents and to start sharing oversight responsibilities with FHA-approved lenders that chose to sponsor brokers.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.