The Mortgage Bankers Association (MBA) has expressed serious concerns with legislation passed by the House Financial Services Committee that would create a consumer financial protection agency. MBA Chairman Robert E. Story Jr., issued the following statement: "For a number of years, MBA has been out front calling for tough, uniform national lending standards to protect consumers. Earlier this year, we came forth with our own proposal that would close the regulatory gaps by establishing a federal regulator for independent mortgage banks.Read more