Policy & Legislation
During the years that led up to the subprime mortgage crisis, Congress was notably passive in dealing with the proliferation of abuses that flourished in a reckless lending environment. The foreclosure crisis that triggered today’s economic problems underscores the need for sensible regulations and protections. Today there are many reforms being weighed and balanced in Washington and in the states. Here we help you keep abreast of proposed policies and their pros and cons.
Browse Mortgage Policy & Legislation
- Analysis of the Report of the Monitor of the National Mortgage Settlement
Published: Mar 20 2013 Issue: Mortgage Lending
CRL's analysis of "Ongoing Implementation",a report on 2012 efforts under the National Mortgage Settlement to halt foreclosures through loan modifications, and other assistance.
- State Actions Still Needed to Prevent Unnecessary Foreclosures
Published: Mar 4 2013 Issue: Mortgage Lending
States are in a strong position to prevent unnecessary foreclosures, stabilize local housing markets and protect homeowners from mortgage servicing abuses. Through practical enhancements to the...
- CRL Comment to CFPB on Ability to Repay Standards under the Truth in Lending Act (Regulation Z)
Published: Feb 25 2013 Issue: Mortgage Lending
CRL and allies comment on CFPB proposal that addresses two issues critical to the future of safe, sustainable, and affordable access to mortgage credit. First, it considers how to define...
- CRL Response to CoreLogic Analysis of Qualified Mortgage (QM) Standards
Published: Feb 20 2013 Issue: Mortgage Lending
CRL identifies some problems with CoreLogic's QM analysis of the percent of mortgage loans that would not meet QM standards
- Qualified Mortgage Rulemaking: Protecting Borrowers from the Next Lending Crisis
Published: Jan 10 2013 Issue: Mortgage Lending
The Dodd‐Frank Wall Street Reform and Consumer Protection Act requires lenders to determine whether borrowers can repay a mortgage before that transaction takes place -- by making loans that meet a...
- Congress: Extend Mortgage Forgiveness Debt Relief Act
Published: Nov 29 2012 Issue: Mortgage Lending
Center for Responsible lending joined with Financial Services Roundtable and Housing Policy Council to ask Congress to extend the Mortgage Forgiveness Debt Relief Act.
- CRL Comments To the Consumer Financial Protection Bureau RE: Truth in Lending Act (Regulation Z) and Loan Originator Compensation
Published: Oct 16 2012 Issue: Mortgage Lending
CRL affirms that limits on loan originator compensation contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act and in Regulation Z are important consumer protections that...
- Making Mortgage Servicing More Effective: Comments to the CFPB
Published: Oct 9 2012 Issue: Mortgage Lending
In comments submitted to the Consumer Financial Protection Bureau, CRL makes a number of recommendations to help ensure loan servicers give distressed mortgages a timely, efficient and...
- The Future of Homeownership
Published: Sep 21 2012 Issue: Mortgage Lending
After years of steady progress, the homeownership rate in America has seen its biggest drop since the Great Depression. Today we have an opportunity to return to a stable lending environment with...
- CRL Comments to the Consumer Financial Protection Bureau on RESPA and TILA (Regulations X and Z)
Published: Sep 7 2012 Issue: Mortgage Lending
CRL offers supports the Bureau's consumer protection proposal for mortgage rules and disclosures for high-cost (HOEPA) loans. But it urges CFPB to be vigilant about evasions of HOEPA and to adopt...