Congress
HIGHLIGHT
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.
Search Mortgage Lending - Policy & Legislation - Congress
Browse Mortgage Lending - Policy & Legislation - Congress
- Priorities for the Next Administration: Use of TARP Funds under EESA
January 13, 2009Michael D. Calhoun, President, CRL
- Experts Support Judicial Loan Modification
December 12, 2008List of quotes from experts in support of allowing bankruptcy judges discretion to modify terms of mortgage for a principle residence.
- Helping Families Save Their Homes: The Role of Bankruptcy Law
November 19, 2008Testimony points to need for decisive policy actions to realign interests of homebuyers and institutions that provide the loans and the entities that invest in those mortgages
- Oversight of the Emergency Economic Stabilization Act: Examining Financial Institution Use of Funding Under the Capital Purchase Program
November 13, 2008Urges effective policies to maximize number of families who stay in their homes. Urges Treasury and Congress to support loan modifications
- Government Did Not Require Reckless Lending
October 22, 2008Contains list of sources that discuss how Wall Street initiated most of the reckless lending and Washington failed to stop them
- Briefing on the Mortgage Crisis and Its Impact on the Economy
October 22, 2008Ellen Harnick advocates for court-supervised loan modifications through the bankruptcy courts
- Turmoil in the U.S. Credit Markets: The Genesis of the Current Economic Crisis
October 16, 2008Urges effective policies to maximize number of families who stay in their homes. Urges Treasury and Congress to support loan modifications
- CRA is not to Blame for the Mortgage Meltdown
October 3, 2008CRA has not forced lenders to make risky loans to low and moderate families and to communities of color. CRA has led to affordable, sustainable loans in underserved communities.
- Bailout: Government's Power to Modify Loans Limited
September 24, 2008MBS holders have no right to control how the trust manages mortgages, limiting Government's power to modify loans
- The Problem with the Paulson Bailout Plan
September 23, 2008Appeal to consumers to urge Congress to support judicial loan modifications
