Stop Blaming Lenders, Plan on Curbing ‘House Flipping’
November 19, 2001
The mortgage industry said the Department of Housing and Urban Development should stop blaming lenders for property flipping and work with them to find a less burdensome and least costly solution to the problem. In comments on a proposed HUD rule to curb property flipping, the Mortgage Bankers Association of America took issue with the agency’s finding that property flipping schemes are "often abetted by a lender’s collusion with an appraiser."