It is my contention that regulation can be very good but at no time are regulations written by many different agencies ever good for the parties whose interests are intended to be protected. Regulators need to justify their authority over parties and thus they have a tendency to try to find a reason to regulate whether it is necessary or not. This is exactly what is going on here.

Sam Collins is precisely right; this all has been addressed before. Somehow these brilliant regulators have no time to research what regulations may be in place and how they are integrated into the overall program. Instead they read newspaper stories and decide they are the right party to come to the rescue. Yes, HUD gets upset over these intrusions but they do not have the authority to overrule these regulators.

I am not against regulation but I am against too much regulation by too many regulators. While it is understandable that the states must enter into the fray, why do federal agencies other than HUD have to be involved? If they limited their regulation to non-FHA products, that would be understandable but they are not. This kind of regulation is unwarranted and should be stopped. I am afraid this Administration only encourages this type of nonsense.