Policy & Legislation
The California office works with regulatory agencies as well as with the legislative and executive branches on mortgage lending policy.
- Comparing Dual Track Foreclosure Restrictions
June 13, 2013
CRL compares the dual track foreclosure restrictions and requirements in the National Mortgage Settlement, the California Homeowner Bill of Rights and related rules from the Consumer Financial Protection Bureau.
- California Homeowners’ Bill of Rights (HOBR)
October 31, 2012
The California Foreclosure Reduction Act – SB 900 extends key protections of the National Mortgage Settlement to all mortgage servicers for owner-occupant borrowers at risk of foreclosure.
- Foreclosure Reduction Act: CRL Refutes California Bankers Association's Flawed Claims
July 2, 2012
CRL challenges the unsubstantiated claims made by the California Bankers Association about the impact of the Foreclosure Reduction Act. The bill will reduce unnecessary foreclosures and improve the foreclosure process.
- California Foreclosures: New Data Support Policy Reforms to Encourage Effective Loan Modifications and Prevent Avoidable Foreclosures
June 25, 2012
Although the national foreclosure crisis is now in its fifth year, it is far from over—particularly for California. The Center for Responsible Lending estimates that there are still nearly 700,000 California homeowners who are at least 30 days delinquent or in the foreclosure process. While not all of these impending foreclosures can or should be prevented, new CRL analysis sheds light on the impact of loan modifications on preventing avoidable foreclosures and how many and which Californians are at risk.
- California Homeowner Bill of Rights Summary
June 22, 2012
California is only halfway through the foreclosure crisis, with more than 670,000 California households at risk of foreclosure: Data from CRL’s report, Lost Ground, 2011 show that 9.3 percent of all loans originated between 2004 and 2008 – 581,000 – have already resulted in completed foreclosure, but that another 8.9 percent (549,000) were at immediate risk of foreclosure. At the end of 4Q 2011, more than 454,000 mortgage loans – or more than 1 in 14 – were past due (but not yet in foreclosure), while almost 217,000 loans were in the foreclosure process, bringing the total California loans at risk to approximately 671,000.
- Compromises in the California Homeowner Bill of Rights
June 22, 2012
During the course of negotiations, the Joint Conference Committee on Mortgage Foreclosures has substantially narrowed the scope of the bill and limited the protections to borrowers relative to the version of the bills that were before the Assembly and Senate Banking Committees earlier this year. Here is a list of specific changes.
- Effects of the California Foreclosure Crisis on African Americans and Latinos
June 20, 2012
Quick facts on the impact of foreclosures on African Americans and Latinos in California.
- CRL Analysis of the 2012 California Homeowner Bill of Rights
April 10, 2012
Attorney General Kamala Harris is sponsoring a package of bills (the Homeowner Bill of Rights) designed to mitigate the foreclosure crisis and provide Californians with greater protections in the foreclosure process.
- SB 1275: Borrower Stories
June 2, 2010
Summaries of three California homeowners who would be helped by SB 1275 and its impact on the loan modification and foreclosure processes.
- SB 1275 Summary
June 2, 2010
Summary of SB 1275, a mortgage-related California bill addressing massive foreclosures and increasing reports of major problems with loan servicers.
- SB 1275: Fairness, Transparency, Accountability
May 13, 2010
SB 1275, a California mortgage lending bill addresses record foreclosures and problems with loan servicers.
- Protecting Homeownership, Reforming the Marketplace: The California Legislature’s Role in Today’s Crisis
February 3, 2009
CRL California policy analysis examines the role of the California legislature in addressing the foreclosure crisis.
- 2009 California Mortgage Lending Toolkit for New Legislators
January 1, 2009
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.
- SNAPSHOT: California Mortgage and Foreclosure Data January 2009
January 1, 2009
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 Mortgage Crisis Today: How Far Have We Come and Where Do We Need to Go?
August 4, 2008
Overview of subprime and alternative lending market with focus on California
- Preserving the American Dream: Home Ownership and the Subprime Mortgage Crisis
August 21, 2007
Testimony before California Senate Banking Committee
- Testimony: Paul Leonard to California Senate Banking 03/26/2007
March 26, 2007
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.