Research & Analysis
HIGHLIGHT
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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- State Actions Still Needed to Prevent Unnecessary Foreclosures
March 4, 2013States are in a strong position to prevent unnecessary foreclosures, stabilize local housing markets and protect homeowners from mortgage servicing abuses. Through practical enhancements to the standards set by the Consumer Financial Protection Bureau (CFPB) and California’s Homeowner Bill of Rights, states can help borrowers get full and fair consideration for loan modifications before losing their homes to foreclosure.
- CRL Comment to CFPB on Ability to Repay Standards under the Truth in Lending Act (Regulation Z)
February 25, 2013CRL and allies comment on CFPB proposal that addresses two issues critical to the future of safe, sustainable, and affordable access to mortgage credit. First, it considers how to define compensation for the purpose of calculating the points and fees cap contained in the qualified mortgage definition. Second, it proposes a series of exemptions for specialized lending programs and financial institutions.
- CRL Response to CoreLogic Analysis of Qualified Mortgage (QM) Standards
February 20, 2013CRL identifies some problems with CoreLogic's QM analysis of the percent of mortgage loans that would not meet QM standards
- Qualified Mortgage Rulemaking: Protecting Borrowers from the Next Lending Crisis
January 10, 2013The Dodd‐Frank Wall Street Reform and Consumer Protection Act requires lenders to determine whether borrowers can repay a mortgage before that transaction takes place -- by making loans that meet a “Qualified Mortgage” (QM) standard. This CRL factsheet describes the key QM provisions in the final rule issued by the Consumer Financial Protection Bureau.
- Congress: Extend Mortgage Forgiveness Debt Relief Act
November 29, 2012Center for Responsible lending joined with Financial Services Roundtable and Housing Policy Council to ask Congress to extend the Mortgage Forgiveness Debt Relief Act.
