REALTORS®, homebuilders Agree: Arbitrarily high down payments will hurt economy It would...

REALTORS®, homebuilders Agree: Arbitrarily high down payments will hurt economy It would unfairly and unnecessarily close the door to home ownership for many middle-class families.

March 18, 2011 – (RealEstateRama) — REALTORS®, Homebuilders, consumer groups urge federal regulators to avoid arbitrarily high mortgage down payments, which would hurt the economy by unfairly and unnecessarily closing the door to home ownership for many middle-class families. http://www.responsiblelending.org/mortgage-lending/policy-legislation/regulators/joint-letter-to-regulators-1.html

For more information: Kathleen Day at (202) 349-1871 or ; Ginna Green at (510) 379-5513 or ; or Charlene Crowell at (919) 313-8523 or .

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About the Center for Responsible Lending
The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation’s largest community development financial institutions.

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