Summaries of three California homeowners who would be helped by SB 1275 and its impact on the loan modification and foreclosure processes.

Summary of SB 1275, a mortgage-related California bill addressing massive foreclosures and increasing reports of major problems with loan servicers.

SB 1275, a California mortgage lending bill addresses record foreclosures and problems with loan servicers.

CRL California policy analysis examines the role of the California legislature in addressing the foreclosure crisis.

After years of industry-blocked efforts to strengthen lending standards, the growth in reckless lending and abusive practices has left California facing a foreclosure crisis with catastrophic consequences for families, California needs policy reforms to stem the tide of foreclosures, and to tighten lending standards to prevent a repeat of this foreclosure crisis.communities, and the California economy as a whole.

The California Office of the Center for Responsible Lending prepared the following documents to help California's newest legislators navigate the predatory mortgage lending arena.

Overview of subprime and alternative lending market with focus on California

Problems of the subprime market and their impact on Californians and the state of California: testimony of Paul Leonard, Director of the California Office of the Center for Responsible Lending before the California Senate Banking Committee March 26, 2007.