Becky Walzak, owner of Boca Raton, Fla.-based Walzak Risk Analysis, and a team of lobbyists are pushing to have included in a mortgage rescue bill an amendment that would institute a scoring system for banks and lenders to hold them accountable for the loans they underwrite, according to an article by Kate Ackley in Roll Call. This stipulation is designed to ultimately save taxpayers' money.
‘I have really been focusing on the underlying way that we create loans, and understanding that there is a relationship between the mistakes you make when you're creating the loans and how those loans perform,’ Walzak told Roll Call.
However, despite some support thus far from both the House and Senate, the Mortgage Bankers Association is said to oppose the amendment.