In 1994, the average home cost about $150,000, and almost no one had ever heard of a subprime loan. That was also the year when Congress last took any major action against predatory mortgage lending. Today federal lawmakers are playing catch-up as they consider key legislation to stop foreclosures and strengthen protections against abusive lending practices.
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- Predatory Mortgage Lending: The Problem, Impact, and Responses
Published: Jul 26 2001 Issue: Mortgage Lending
Testimony of Martin Eakes,Self-Help CEO and Coalition for Responsible Lending Spokesperson Before the Senate Committee on Banking, Housing and Urban Affairs.
- Predatory Lending Practices
Published: May 24 2000 Issue: Mortgage Lending