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
- Refinancing: Helping Responsible Homeowners Save Money
Published: Apr 25 2012 Issue: Mortgage Lending
Interest rates are at historic lows, but many homeowners who could benefit from these low rates have not refinanced their higher-rate mortgage. In this testimony, CRL President Michael Calhoun...
- Summary of National Mortgage Settlement
Published: Mar 14 2012 Issue: Mortgage Lending
Forty-nine state attorneys generals and two government agencies have reached a $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and...
- National mortgage Settlement is a game-changer
Published: Feb 17 2012 Issue: Mortgage Lending
A lawsuit highlights possible foreclosure fraud, as loan servicing employees admit they don’t actually review foreclosure documents; instead they do "robo-signing.
- Comments on the Federal Housing Finance Agency Joint Initiative on Mortgage Servicing Issues
Published: Dec 27 2011 Issue: Mortgage Lending
FHFA has the mandate and the opportunity to improve mortgage servicing practices. CRL recommends incentives to encourage better service by loan servicers and to promote more timely and effective...
- Facing the Foreclosure Crisis:
Four Urgent Needs to Address Now.
Published: Nov 29 2011 Issue: Mortgage Lending
This policy brief is a companion piece to CRL's foreclosure research, "Lost Ground, 2011." Here we discuss practical policies that would help stop the foreclosure epidemic and restore confidence in...
- Amici Curiae CSJ and CRL in Guillaume
Published: Sep 26 2011 Issue: Mortgage Lending
CRL filed an amicus brief to the New Jersey Supreme Court, advocating for strict compliance with New Jersey’s Fair Foreclosure Act and the federal Truth in Lending Act’s intentional reordering of...
- Coalition Urges Strong Servicing Settlement that Holds Banks Accountable
Published: Aug 24 2011 Issue: Mortgage Lending
As state Attorneys General wrap up their robo-signing investigation, CRL joins Americans for Financial Reform in urging AGs to produce a strong settlement for homeowners that prevents unnecessary...
- Comments to CFPB re Larger Participant Rulemaking
Published: Aug 15 2011 Issue: Consumer Financial Protection Bureau, Debt Settlement, Installment Loans, Refund Anticipation Loans
- Qualified Residential Mortgages: How long does it take to save 10%?
Published: Aug 5 2011 Issue: Mortgage Lending
See how qualified residential mortgage proposals to require prospective homeowners to make a 10 percent down payment would arbitrarily lock creditworthy borrowers out of the market.
- QRM Comments: Mortgage Market of the Future can Produce Sensible Loans without High Down Payments
Published: Aug 2 2011 Issue: Mortgage Lending
CRL offers comments to regulators on proposed risk retention rules, urging sensible rules that do not include mandated down payment requirements.