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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- Proposed QRM Definition Harms Creditworthy Borrowers While Frustrating Housing Recovery
June 23, 2011
The Qualified Residential Mortgage (QRM) should be redesigned to align with Congressional intent: encourage sound lending behaviors that reduce future defaults without harming responsible borrowers and lenders. The Coalition for Sensible Housing Policy, including CRL, collaborated on this paper describing the negative impact of proposed mortgage rules that would mandate large down payments.
- Locked Out of a Home: The Impact of a 10% Down Payment Requirement on Prospective Home Buyers
June 22, 2011
CRL's analysis shows that a 10% down payment on QRM mortgages would make homeownership out of reach for many creditworthy American families.
- Joint Statement: Proposed Down Payment Rules Harm Creditworthy Borrowers
April 15, 2011
CRL joins mortgage bankers, Realtors, home builders and other housing groups in explaining how high down payments would make homeownership more expensive or out of reach for millions of Americans.
- Banking Regulators Should Withdraw Consent Orders on Illegal Servicing
April 6, 2011
CRL joins more than 50 national organizations in urging federal banking regulators to withdraw consent orders that allow mortgage servicers to escape any serious consequences for illegal business practices.
- Joint Letter to Regulators Against High-Downpayment Requirements
March 16, 2011
CRL joins key housing groups in urging federal regulators to avoid setting arbitrary mortgage downpayment requirements.