Before the government intervenes in the housing market, before it considers any new taxes, actions or regulations, it must first consider how they might hurt real people who are trying to become homeowners. As the former federal budget director, I know that what may sound simple and virtuous in the policy and political shops of Washington might not work well out in the real world. Instead it should follow the President's 1993 executive order on regulation, which provided a strong policy of restraint on heavy-handed government. Finally, home buyers have a right to know about mortgage decisions . It is critical that we have transparency in mortgage underwriting decisions.
Home buyers deserve to know who is making the decision.
They deserve to know how the decision is made. They deserve to know what factors go into the decision. And they deserve to know if they can change the decision, and how. The Fannie Mae Foundation leads the housing finance industry in home buyer information and education, to help people understand how to buy a home, what they need and how the process works. It explains the tools that lenders use to evaluate loan applications, and how they make decisions.