States
HIGHLIGHT
During the subprime frenzy, many states moved ahead to pass stronger lending protections as the federal government dragged its feet. The states have led the way in closing loopholes in federal laws and weeding out abusive loan terms, such as excessive fees and prepayment penalties. The Center for Responsible Lending continues to work with partners and allies in many states to stop foreclosures and help ensure more responsible lending in the future.
Search Mortgage Lending - Policy & Legislation - States
Browse Mortgage Lending - Policy & Legislation - States
- Coalition Urges Strong Servicing Settlement that Holds Banks Accountable
August 24, 2011As 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 foreclosures and keeps the door open for more legal remedies in the future.
- Foreclosure as a Last Resort
October 21, 2010States are in a strong position to stabilize the housing market and prevent unnecessary foreclosures, and the best tool available is mandatory loss mitigation.
- Foreclosure Fraud? Robo-Signing Reveals Rush to Foreclosure
October 8, 2010A lawsuit highlights possible foreclosure fraud, as loan servicing employees admit they don’t actually review foreclosure documents; instead they do "robo-signing.
- Allowing National Banks to Ignore State Lending Laws Encouraged Risky Lending
October 16, 2009UNC's Center for Community Capitalism finds that national banks increased subprime lending when they were allowed to ignore state laws (i.e., "preempt" state laws), and states with stronger lending laws have had fewer foreclosures.
- State Attorneys General Call For The Creation of CFPA
August 17, 2009A geographically broad and bipartisan letter sent August 17 letter to key committee chairs in the U.S. House and U.S. Senate by 24 State Attorneys General, signals a strong state of support for the proposed Consumer Finance Protection Agency (CFPA).
