A prominent figure in mortgage origination technology is up in arms because HUD rules in effect bar many users of electronic lending networks from making FHA loans.

Jack M. Guttentag, chairman of GHR Systems Inc., complained, "They are trying to protect themselves against fraud by making requirements that the operators (of computerized loan origination systems) be mortgagees," he said. "What they don't understand is how the marketplace is structured."

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