Bankers Association of America SUMMARY OF TESTIMONY 1125 Fifteenth Street, N.W. Washington, D.C. 20005 OF WARREN LASKO, EXECUTIVE VICE PRESIDENT MORTGAGE BANKERS ASSOCIATION OF AMERICA BEFORE THE SENATE SUBCOMMITTEE ON HOUSING APRIL 3, 1992 VA JAN 1991 JAN 1992 HUD has stated that there is no evidence that the FHA reforms have adversely affected FHA's volume of business. This statement does not square with the facts. Since the end of 1990, FHA's share of total FHA, VA, and PMI loans closed has fallen from 60 percent to 40 percent. Over the same period PMI market share has risen from 28 percent to 40 percent. |