Part of the fallout from the mortgage meltdown is the debate on what constitutes a qualified mortgage. [See "Regulators Discussing Definition of Qualified Mortgages, cutimes.com, March 3.]

The simplistic view is that all of our problems will be resolved if we just have 80% loan-to-value ratio loans. This is the best reason why government should not try to solve our problems. The solution is truly the responsibility of the people who have to live with the solution and who do not have a political agenda. I was happy to read that at least one congressman spoke out on the issue that 80% LTV is only part of the solution.

I learned how to mortgage underwrite when I was a federal examiner and credit unions got the authorization to make 30-year mortgages. I took the mortgage underwriting courses provided by the Mortgage Bankers Association. Then the traditional mortgage was one that was sold to the secondary market and it was investment grade. There were many issues that the underwriter had to prove in order to get the mortgage up to standard. This standard and those issues form the base for the program that I developed at Lafayette FCU to mitigate risk and provide a mortgage product to members that they could invest in.