larry kudlow 
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Wed Dec 23, 2009 at 01:30:00 PM EST
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Congressman Scott Garrett appeared on CNBC's The Call with Larry Kudlow and Melissa Francis to talk about his proposal to raise the downpayment requirement on FHA loans. Former Hud Official and mortgage industry consultant Howard Glazer took all 3 on defending the current FHA setup: Currently, you can get FHA loans with 3.5% down. Garrett is proposing to raise the downpayment to 5%. Glazer tried to compare the performance of FHA to that of private mortage companies. He said that raising the downpayment wouldn't lower the risk, it would just close the window on people who could get loans that the private market isn't serving. At times, it seemed like Larry Kudlow's head was going to explode and he actually said he was being discriminated against because he said he would have to put 20% down.
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