As the debate over how to handle the subprime lending crises wares on, two high-profile organizations are publicly expressing different views when it comes to subprime-related issues and regulations.
In the past two months,  the Mortgage Bankers Association (MBA) and the Center for Responsible Lending (CRL) have issued press statements disputing statistical data provided by the other. This week, the MBA defended its research after reading a critique of its data published by CRL. In a press statement, the MBA said, it is now challenging the integrity of the data and the methodology used by CRL in calculating its reports.

Chairman John M. Robbins said, in a press release, “MBA stands by its analysis on the impact of delinquencies and foreclosures in the subprime market and the contribution subprime loans have made in increasing homeownership. Today, homeownership stands at 69 percent because many people not able to get credit in the past have gotten the opportunity to borrow money. And, our data demonstrates that 87 percent of borrowers with subprime loans are paying their mortgages on time and enjoying the benefits of homeownership.”
The MBA also contends the percentages of foreclosures in the subprime market are far below the rates cited in CRL studies. According to MBA stats,  the percentage of foreclosures in the subprime lending market in 2006 hovered at 7.28 percent, which is roughly 2 percent higher than the year before and only one percent higher than the subprime foreclosure rate in 1999.
Click here to read the MBA’s entire rebuttal.
Click here to read CRL’s previous rebuttal of MBA statistics.
Click here to read previous CRL and MBA coverage.