Is our government getting it right?

 Its about time

Daily Real Estate News  |  March 14, 2008Paulson Calls for Solutions, Not Excuses
Treasury Secretary Henry Paulson on Thursday called for stronger regulatory oversight of mortgage lenders.

Paulson said this is part of a new Bush administrative initiative that isn't "finding excuses and scapegoats," but is a working group seeking solutions that will avert recession.

"The objective here is to get the balance right - regulation needs to catch up with innovation and help restore investor confidence but not go so far as to create new problems, make our markets less efficient or cut off credit to those who need it," said Paulson.

One recommendation from the group calls for federal and state regulators to strengthen oversight of mortgage lenders and another urges state financial regulators to implement strong nationwide licensing standards for mortgage brokers.

Source: The Associated Press, Jeannine Aversa (03/13/08)