CRL State Legislative Scorecard
Predatory Mortgage Lending
People who live in states with strong laws against predatory lending are more likely to get responsible mortgages at a lower cost. How does your state fare? Compare your state with the minimum standards set by federal law (the Home Ownership and Equity Protection Act of 1994, or HOEPA), and see if your state protects you against these specific abuses.
Learn more about why state laws are a better deal for homeowners.
Get help reading this scorecard at the bottom of this page. We update these ratings once all state legislatures have completed their annual sessions. The current scorecard is current as of 12/31/2005.
How to read the
CRL scorecard
Provision grades
= Strong
= Moderate
= Weak/none
States in bold have laws that are stronger than HOEPA, the current federal law.
Provision abbreviations
- COV = Types of mortgages covered under the statute. Strong provisions include all loan types, such as conventional, government-insured, and open-end.
- P&F = Protections against excessive points and fees. Strong provisions avoid loopholes for suprime prepayment penalties and yield spread premiums while providing protection at a lower threshold.
- PPP = Restrictions on subprime prepayment penalties. Strong provisions restrict the term and amount of allowable prepayment penalties.
- FLP = Protections against flipping (harmful refinance loans). Strong provisions prohibit flipping that has no net benefit to the borrower on all home loans.
- HCP = High-cost loan protections. Strong provisions require loan counseling, ban prepayment penalties, and/or limit fees on high-cost loans.
- HCR = Remedies for violations of high-cost loan protections. Strong provisions allow homeowners to defend against foreclosure, without exception.
