HUD has damaged its credibility with the real estate industry. The entire real estate industry lobbied against the legislation that would require appraisers to act as building inspectors for FHA loans. The sports equivalent of this act would be to hand Mark McGwire a Hockey stick and expect an improved result. The larger issue here is how was HUD able to make such a serious policy error given the overwhelming amount of evidence to the contrary. How did this happen? How was it possible? Can anyone in HUD explain that to me? Further, what steps can be taken to change the culture of HUD to insure that another "obvious" incorrect policy decision of this magnatude is not so easily made in the future. It is very disconcerting to realize that a part of my annual income is in the hands of persons who cannot think better than this. It makes one wonder what else is "out there" at HUD that can harm the industry that has not yet been unearthed? This is so bad that it's really better not to think about it too much.

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