Firms write to bank committee
Two Inland Empire firms who are members of Community Mortgage Lenders of America, a public policy organization, had their company names on a letter recently sent to members of the Senate Banking Committee, a Congressional subcommittee. The letter warned that "proposals under consideration by Congress will have a devastating effect on mortgage lending and increase risk in the mortgage system," according to a news release. The letter represented Redlands-based Mountain West Financial Inc. and Rancho Cucamonga-based South Pacific Financial, and was signed by 85 other community mortgage lenders, representing over $120 billion in annual mortgage originations.
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