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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- Widespread Abuse by Mortgage Servicers Hurts Homeowners, Investors, Taxpayers, Economy
July 7, 2011
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 told Congress today.
- Banking Regulators Should Withdraw Consent Orders on Illegal Servicing
April 6, 2011
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 practices.
- Fix or Evict? Loan Modifications Return More Value Than Foreclosures
March 23, 2011
CRL's new research reveals banks and other loan servicers have a strong foreclosure bias that cheats investors. Banks push for foreclosures even when investors benefit more with a loan mod.
- Joint Letter to Regulators Against High-Downpayment Requirements
March 16, 2011
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
March 1, 2011
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.” In fact, low down payment home loans have been a significant—and safe—part of the mortgage finance system for decades, bearing little resemblance to subprime and other alternative mortgage products that crashed our economy. And responsible low down payment loans are also a key to the recovery of our nation’s housing market and economy
- Wall Street, Not Fannie Mae and Freddie Mac, Led the Toxic Mortgage Market
January 26, 2011
Fannie Mae and Freddie Mac were prohibited from buying subprime mortgages. Five key facts showing why we can't blame the foreclosure crisis on Fannie and Freddie.
- Joint Letter to Regulators on Elements of "Qualified Residential Mortgages"
January 25, 2011
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."
January 14, 2011
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 unnecessarily tighten access to home loans.
- Implementing Mortgage Rules for Financial Reform: Recommendations for Defining "Qualified Residential Mortgages" and Formulating Lending and Servicing Standards
December 21, 2010
Implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act: Letter from CRL and allies with specific recommendations for mortgage and servicing standards, including how to define "qualified residential mortgages."
- Summary of Key Provisions (Mortgage Originations) in Dodd-Frank Wall Street Reform and Consumer Protection Act
December 1, 2010
Detailed description of provisions in Title XIV: “Mortgage Reform and Anti-Predatory Lending Act” Subtitles A-C: Mortgage Originations