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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- 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.
- 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...
- Proposed QRM Definition Harms Creditworthy Borrowers While Frustrating Housing Recovery
Published: Jun 23 2011 Issue: Mortgage Lending
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...
- Locked Out of a Home: The Impact of a 10% Down Payment Requirement on Prospective Home Buyers
Published: Jun 22 2011 Issue: Mortgage Lending
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
Published: Apr 15 2011 Issue: Mortgage Lending
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.