FTC, Ginnie Mae, Chairman discussed on C-SPAN


And sound practices and the protection if you will a and and minimal standards for uh for a fair uh practices e in this space i'm curious because the ftc should be able to regulate unfair and deceptive practices have there been any cases referred to the ftc where there's been unfair and deceptive at understand there's lots of things going on here but there's they could disclose batter so let's do that said committee chair jelly arrington safety and soundness for the tax payer in the program but then there is real uh deception and unscrupulousness by offering one thing in it be really another thing have those been referred to the ftc and have they acted upon those uh mr london i am not personally aware of any number froze that have been made uh mr right yum yeah we were we what we've been doing is collecting solicitation materials that are are generally from actually brokers not blenders himself but then they do they originate these loans and then sell them to lender um i went and what what i'd love to do is you know we've got a pile of them so i've asked all the veterans at ginnie mae to sort of collect these solicitation materials they get i'll share them with you they're not they're not lies they're just real ill understand what will sit down and talk to them this arm trying to be real careful even in this hearing did not say predatory way and right up because the the ftc oughta ought to pursue that and bring the full force of the law against people that are doing that and then where we need to tighten it up where there's some fast ness and looseness that's what you guys can do in in and then and then again for me all to billy the safety and soundness of the program this is offered because the taxpayers allowed this to happen because they loved their veterans and they i want them to have this benefit but they want it done in a safe and sound and a fiscally responsible way as chairman if our making our app amend mile comment that i read because your question was specific to.

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