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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- Banking Regulators Should Withdraw Consent Orders on Illegal Servicing
Published: Apr 6 2011 Issue: Mortgage Lending
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...
- Joint Letter to Regulators Against High-Downpayment Requirements
Published: Mar 16 2011 Issue: Mortgage Lending
CRL joins key housing groups in urging federal regulators to avoid setting arbitrary mortgage downpayment requirements.
- Don't Mandate Large Down Payments on Home Loans
Published: Mar 1 2011 Issue: Mortgage Lending
Recent proposals call for requiring prospective homeowners to make a 10-20 percent down payment when purchasing a home. This is seen as “getting back to the way mortgages were made in the 1980s.” ...
- Joint Letter to Regulators on Elements of "Qualified Residential Mortgages"
Published: Jan 25 2011 Issue: Mortgage Lending
A diverse group of national civil rights, labor and consumer organizations writes regulators to share their views with respect to the regulation of securitizers of residential mortgage loans.
- Joint Letter to Regulators Urging a Broader Definition of "Qualified Residential Mortgages."
Published: Jan 14 2011 Issue: Mortgage Lending
CRL and other advocates join mortgage industry leaders in urging regulators to carefully consider how they define mortgages that will be exempt from certain rules. An overly narrow definition could...