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
- Why a Federal Consumer Protection Watchdog Matters to the States
Published: Apr 16 2010 Issue: Consumer Financial Protection Bureau
Financial companies are lobbying hard to strip states' rights to make and enforce consumer protection rules, but states must stay on the front lines of fighting predatory lending.
- Comments to the Federal Trade Commission on Mortgage Assistance Relief
Published: Mar 30 2010 Issue: Mortgage Lending
The need for mortgage relief continues to grow, but too often companies that promise mortgage assistance relief services (MARS) turn out to be scammers. CRL and its allies recently submitted...
- Comparison of Consumer Financial Protection Agency Bills
Published: Mar 18 2010 Issue: Consumer Financial Protection Bureau
How Does Dodd’s Latest Financial Reform Bill Measure Up On Consumer Protection? Comparison of Senate, House, and Administration CFPA Bills from Think Progress:...
- Consumer Financial Protection Agency (Additional Resources)
Published: Mar 1 2010 Issue: Consumer Financial Protection Bureau, Mortgage Lending
Financial Reform: Learn more about the CFPB/CFPA and other efforts to reform the financial system.
- Foreclosures Continue: What Needs to Change in the Government's Response?
Published: Feb 25 2010 Issue: Mortgage Lending
Testimony on the government's response to continuing foreclosures by Julia Gordon before the U.S. House of Representatives Committee on Oversight and Government Reform Subcommittee on Domestic Policy.
- To Prevent Foreclosures, Eliminate Penalty Tax On Mortgage Relief
Published: Feb 1 2010 Issue: Mortgage Lending
When homeowners are at risk of losing their home to foreclosure, the last thing they need is an extra tax bill. Congress needs to fix the 2007 Mortgage Forgiveness Debt Relief Act so that...
- Reckless Lending and Toxic Products Caused the Foreclosure Crisis
Published: Jan 13 2010 Issue: Mortgage Lending
Julia Gordon, CRL Sr. Policy Counsel, testifies before the Financial Crisis Inquiry Commission on the causes and effects of the foreclosure crisis and why we need more and better responses.
- Federal Reserve Should Ban Mortgage Kickbacks
Published: Dec 24 2009 Issue: Mortgage Lending
In a comment letter to the Federal Reserve Board, CRL recommends strengthening proposed rules to ban routine kickbacks on home loans that already have cost Americans billions of dollars.
- The Private Sector and Government Response to the Mortgage Foreclosure Crisis
Published: Dec 8 2009 Issue: Mortgage Lending
Julia Gordon, CRL Sr. Policy Counsel, testifies before the House Financial Services Committee on why we need a stronger, multi-pronged approach to stopping the mortgage foreclosure epidemic
- End Predatory Pricing on Home Loans (Yield-Spread Premiums)
Published: Dec 7 2009 Issue: Mortgage Lending
The Federal Reserve is considering rules to restrict mortgage brokers and lenders from giving borrowers loans with higher interest rates than necessary and earning "yield-spread premium" kickbacks...