Non Profit Down Payment Lobbying Efforts Ramp Up.

As I have detailed HERE, non profit down payment assistance programs have much higher FHA claims rates than than those loans where the buyer does NOT receive down payment assistance.

Despite these facts, the story HERE lists some of the current non profit lobbying efforts to retain these costly programs, including signing up of the National Association of Home Builders and scheduling a teleconference featuring Russell Simmons. (However a later PR HERE says that the conference called for today has been postponed).