It certainly makes sense to educate potential first-time home buyers about the buying process, but that requires actually having buyers. In a piece for the National Association of Mortgage Underwriters, Gail Foster (a Realtor and licensed mortgage officer in Maryland) argues that educating people about the mortgage process is more important.
The problem is a loan officer can only reach someone who walks through the door, picks up the phone or clicks a link on the internet to inquire about financing. We need to go out and find, lure, and encourage people who may be thinking about home ownership to make the leap and see if they qualify.
Quick, interesting reading — see the whole piece at NAMU’s site.