From: "Jonathan L. Kempner" mba_mail@mortgagebankers.org
July 25, 2007

Dear MBA Member,

During my remarks at MBA's Annual Convention last October, I unveiled a major initiative called Project Clarity. My vision for Project Clarity was to help borrowers understand and evaluate different mortgage choices. At the time, I said we as an industry must take a leadership role in this effort so that our customers receive the best mortgage information possible to make informed decisions.

I also said if we as an industry failed to take this leadership role, we would likely be subjected to a stream of punitive actions by legislators and regulators. It is hard to imagine a time when our industry has been under a greater degree of scrutiny and criticism than the last six months. I have personally testified on Capitol Hill several times and met with dozens of Members of Congress.

More than ever, I believe that arming consumers with basic facts is in the best interest of everyone. That's why I am so pleased to announce The Simple Facts and The Simple Calculator, two tools that will help consumers better understand a variety of loan products. The Simple Facts and The Simple Calculator are the result of very hard work by many MBA members and our dedicated MBA staff. These tools are available for consumers on MBA's Home Loan Learning Center Web site ( www.HomeLoanLearningCenter.com) and will position the Association in the vanguard of consumer assistance and send a strong message to regulators and legislators that mortgage lenders are overwhelmingly ethical and are a positive force in the marketplace.

With those considerations in mind, I am asking for your further support through your company's endorsement of The Simple Facts. By using this informational brochure - co-branded copies of The Simple Facts can be purchased by submitting the order form - as well as directing consumers to the Home Loan Learning Center, we will present a united message of cooperation and assistance for consumers. Please also consider letting us list your official endorsement of Project Clarity on MBA's Web site to further underscore this unprecedented consumer-focused initiative.

Thank you for your consideration. With your help, I am very confident that Project Clarity will do what I hoped it would - simplify and demystify the mortgage process.

Sincerely,

John M. Robbins,
President and CEO MBA
 

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