Today's housing crisis was made possible by weak rules and poor enforcement. As policymakers consider regulatory reform, we focus on three broad goals: stronger rules to restore common sense standards; preserving the states' ability to protect its citizens from predatory lending; and more disclosure and transparency among lenders.
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- CRL to Regulators: Align Qualified Mortgage (QM) and Qualified Residential Mortgage (QRM) mortgage rules
April 22, 2013
Asregulators move to define Qualified Residential Mortgages (QRMs), CRL urges the same standard that CFPB defined for Qualified Mortgages (QM).
- Consumer Advocates Urge HAMP Extension
March 26, 2013
National and statewide consumer groups are urging that the Home Affordable Modification Program (HAMP) be extended, citing success in foreclosure prevention and modification.
- Analysis of the Report of the Monitor of the National Mortgage Settlement
March 20, 2013
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.
- CRL Comment to CFPB on Ability to Repay Standards under the Truth in Lending Act (Regulation Z)
February 25, 2013
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 compensation for the purpose of calculating the points and fees cap contained in the qualified mortgage definition. Second, it proposes a series of exemptions for specialized lending programs and financial institutions.
- CRL Response to CoreLogic Analysis of Qualified Mortgage (QM) Standards
February 20, 2013
CRL identifies some problems with CoreLogic's QM analysis of the percent of mortgage loans that would not meet QM standards