Research & Analysis
Back in 2001, we estimated that predatory mortgage lending cost consumers $9.1 billion every year. Since then, the market for subprime home loans surged, then exploded, and it has become painfully clear that the total cost of bad lending practices is almost incalculable. Still, we keep trying. In recent years our research has focused on topics such as trends in the subprime market, racial disparities in lending, and an assessment of predatory lending laws in the states. Visit us often to stay up-to-date on our latest findings, including periodic assessments of reports issued by lenders and regulatory agencies.
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- Dodd-Frank Act Balances Access to Credit and Key Protections
June 18, 2013
Michael Calhoun, CRL President, testified before a House Financial Services Subcommittee on Dodd-Frank's impact on homeownership. He said that, as a whole, these rules expand access to credit while ensuring that loans are sustainable for borrowers.
- Minority Homeownership Study Has Flawed Methodology and Conclusions
June 13, 2013
CRL rebuts working paper on minority homeownership, citing fundamental flaws and conclusions.
- Comparing Dual Track Foreclosure Restrictions
June 13, 2013
CRL compares the dual track foreclosure restrictions and requirements in the National Mortgage Settlement, the California Homeowner Bill of Rights and related rules from the Consumer Financial Protection Bureau.
- CRL Comment to CFPB on Amendments to 2013 Mortgage Rule
June 3, 2013
- Consumer Advocates Urge FHFA to Curb Lender-Placed Insurance Problems
May 28, 2013
In this comment to the Federal Housing Finance Agency (FHFA), CRL and seven allies comment on proposed practice limitations and broader recommendations regarding lender-placed insurance (LPI). LPI markets are characterized by reverse competition in which LPI premiums paid by mortgage servicers and LPI amounts subsequently charged to borrowers and investors areinflated because LPI insurers/vendors compete for the servicers’ business by providing considerations – kickbacks – to the servicers and including the cost of these considerations in the LPI premiums and LPI amounts charged to borrowers and investors. The extent of the overcharges is demonstrated by the very low loss ratios (claims incurred divided by premiums earned) of LPI compared to loss ratios for homeowners insurance. LPI charges to borrowers and investors are at least twice the reasonable cost of providing LPI. In addition, excessive LPI charges to borrowers and the government-sponsored enterprises (GSEs) are a source of servicer-induced foreclosures, and such excessive charges are also inconsistent with the mission and affordable housing goals of the GSEs. For these reasons, CRL and its allies support the direct purchase by GSEs of LPI and insurance tracking services and support prohibitions against kickbacks from LPI insurers/vendors to mortgage servicers.