Alaska USA Chief Lending Officer Jerry Reed, right, discusses his testimony following the hearing with CUNA Chief Economist Bill Hampel (center) and Kentucky DFI Commissioner Charles Vice.

WASHINGTON — The Consumer Financial Protection Bureau’s qualified mortgage rule will make it harder for Americans to own a home and will undermine the economic recovery, witnesses told members of the Financial Institutions and Consumer Credit Subcommittee at a hearing Tuesday.

The hearing included a credit union witness: Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU in Anchorage. Subcommittee members were particularly interested in Reed’s view that products and product features were responsible for the mortgage market meltdown, not underwriting standards.

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