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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- 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...
- 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...
- 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...