The Mortgage Bankers Association (MBA) has announced that they have sent a letter to House Financial Services Committee Chairman Barney Frank and Ranking Member Spencer Bachus outlining the association's concerns with HR 3126, The Consumer Financial Services Protection Agency (CFPA) Act. Chief among those concerns is that the bill fails to empower the CFPA to establish uniform national standards that will regulate all lenders, and protect all borrowers consistently, regardless of where they live. 

Click here for the MBA's letter to Reps. Frank and Bachus.

For more information, visit MortgageBankers.org.