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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Browse Mortgage Lending - Policy & Legislation - Congress
- CRA is not to Blame for the Mortgage Meltdown
October 3, 2008
CRA 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, 2008
MBS 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, 2008
Appeal to consumers to urge Congress to support judicial loan modifications
- Federal Ownership of Troubled Securities Alone Will Not Stop Foreclosures that Drag Down the Economy
September 20, 2008
Allowing the Federal government to purchase illiquid mortgage-backed securities (MBS) will not work. Large-scale loan modifications —adjusting the terms of a loan to make it affordable—is the best solution to prevent more foreclosures
- Judicial Modification of Loans Would Save 600,000 Homes: Purchase of Securities Will Save None
September 20, 2008
Simply owning securities gives the government no right greater than they currently hold to help borrowers stay in their homes.
- HUD’s Proposed RESPA Rule
September 16, 2008
CRL applauds HUD for looking at RESPA reform
- A Review of Mortgage Servicing Practices and Foreclosure Mitigation
July 25, 2008
CRL urges action be taken to prevent further escalation of foreclosure crisis.
- Analysis of HR 6076
June 27, 2008
Explanation and endorsement of HR 6076: Home Retention and Economic Stabilization Act
- RESPA and its Impact on Small Business
May 22, 2008
- Improving Consumer Protections in Subprime Home Lending
April 29, 2008