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
- 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.
- Comments to the Consumer Financial Protection Bureau and the Federal Reserve Board re: Regulation Z: Proposed Rule on Ability to Pay and Qualified Mortgage
Published: Jul 22 2011 Issue: Mortgage Lending
In its first formal comment to the CFPB, the Center for Responsible Lending supports new Dodd-Frank mortgage reforms and urges the CFPB to ensure that lenders have appropriate consequences if they...
- New Poll: Broad Bipartisan Support for Financial Reform and Consumer Protections
Published: Jul 19 2011 Issue: Consumer Financial Protection Bureau
A new poll reveals that American voters broadly support the 2010 Dodd-Frank Wall Street Reform law, by a 5 to 1 margin, and across all political parties.
- Enhanced Consumer Financial Protection After the Financial Crisis
Published: Jul 19 2011 Issue: Consumer Financial Protection Bureau, Mortgage Lending
Unsustainable lending pushed us into the financial crisis, and sustainable lending and responsible consumer financial services products are needed to restore and maintain economic health. An...
- Widespread Abuse by Mortgage Servicers Hurts Homeowners, Investors, Taxpayers, Economy
Published: Jul 7 2011 Issue: Mortgage Lending
Mortgages servicers should be required to give every mortgage holder “a good-faith review of foreclosure alternatives” before taking steps to take his or her home, CRL president Michael Calhoun...