Consumer advocates, fair housing groups, banks and mortgage lenders don’t always play on the same team, but today they joined forces to critique the Federal Housing Administration’s proposed servicing defect taxonomy.

In a joint letter to Lopa Kolluri, FHA’s principal deputy assistant secretary, the American Bankers Association, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Action, Housing Policy Council, National Consumer Law Center, National Fair Housing Alliance, National Housing Conference and the National Housing Law Project said HUD’s proposed defect taxonomy did not provide enough specifics on loan-level defects and remedies to be successful. details ⇒

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