NO on H.R. 3915 Petition

We want to express our opposition to H.R. Bill 3915. We believe it is burdensome to the independent mortgage broker, anti-competitive, and extremely harmful to consumers by creating fewer options for borrowers seeking financing. An effort to regulate a minority of practitioners and entities will result in significant harm to the majority of practitioners and consumers who will be denied financing and the ability to operate their businesses under the conditions imposed by this legislation and those who will inevitably pay more for products and services in a less competitive landscape. In an already tough lending and real estate envinronment, this bill will put additional unneeded pressure on real estate prices and cause unforeseen harm to homeowners, mortgage professionals and real estate professionals everywhere. It will also limit the choices consumers have in finding a residential mortgage loan strictly to a small number of large financial institutions.