ST. LOUIS (KMOX) – A new paper entitled “Housing Programs in the United States” will be released Tuesday in St. Louis.
It will come from the Bipartisan Policy Center’s Housing Commission.
Co-Chair is Former Senator Kit Bond, who thinks the regulation of banks, especially smaller community banks, has put a damper on home ownership.
“We need to thin out a lot of regulatory underbrush which makes mortgage and applications unreadable and cost too much money.” said Bond.
Bond added “Excessive government regulation is threatening to drive many community bankers who live and work in the community out of the mortgage business.”
He says there are currently 250 pages of regulations that banks have to fill out.
The Bipartisan Policy Center was founded in 2007 by , among others, Senators Howard Baker, Tom Daschle and Bob Dole.
The bi-partisan group making suggestions Tuesday on how to remedy the housing problem will include Representatives Lacy Clay and Russ Carnahan, St. Louis County Executive Charlie Dooley and Federal Reserve Bank of St Louis President and CEO James Bullard.