CRL conducts in-depth research on the extent and impact of predatory lending, to provide useful information to consumers, community advocates, and policymakers alike.
- A Government-Mandated 10% Down Payment: Bad for Families, the Housing Market and the Economy
Published: Aug 31 2012 Issue: Mortgage Lending
Decades of lending have shown that low down payment lending can be successful. Excluding millions of good borrowers from the mainstream mortgage market would be a serious mistake.
- Letter to Regulators on Down Payments (QRM Requirements)
Published: Aug 30 2012 Issue: Mortgage Lending
CRL and six other organizations submit comments to regulators explaining why government-mandated down payments would be damaging to lower- and middle-income families and the housing market as a whole.
- "Qualified Residential Mortgages" -- the Negative Impact of a Government-Mandated 10 Percent Down Payment
Published: Aug 29 2012 Issue: Mortgage Lending
On August 29, 2012, CRL and several other organizations submitted a letter to federal and financial regulators opposing a government-mandated down payment requirement as part of the pending...
- Comments on Enterprise Housing Goals
Published: Jul 31 2012 Issue: Mortgage Lending
The Center for Responsible Lending, Consumer Federation of America, and Empire Justice Center submitted comments to the Federal Housing Finance Agency on a proposed rule for the 2012-2014...
- No Credit Crunch: The CFPB and Consumer Access to Credit
Published: Jul 24 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
Mike Calhoun, CRL President, testified that lack of regulation led to the foreclosure crisis. The Dodd-Frank reforms and CFPB are important reforms to prevent a future housing crisis, and will be...
- The Impact of Dodd-Frank's Home Mortgage Reforms
Published: Jul 11 2012 Issue: Mortgage Lending
CRL Senior Vice President Eric Stein emphasized the importance of defining "Qualified Mortgage" broadly to avoid shutting out creditworthy borrowers from the mortgage market. He recommended that QM...
- Comments on Qualified Mortgages to the Consumer Financial Protection Bureau
Published: Jul 9 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
The Center for Responsible Lending, Consumer Federation of America and The Leadership Conference on Civil and Human Rights responded to the CFPB's request for comments on qualified mortgages. Much...
- Expanding, Streamlining Mortgage Refinances
Published: Jun 27 2012 Issue: Mortgage Lending
The Boxer-Menendez bill to expand refinances offers a bipartisan opportunity to help homeowners and boost the economy. The bill would more than double the number of homeowners who could refinance...
- Regulatory Compliance Costs and Small Financial Institutions
Published: May 9 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
CRL President Michael Calhoun testifies before a House Financial Services subcommittee on the benefits of strong lending protections. Financial reform, including the CFPB, is good for American...
- Summary of National Mortgage Settlement
Published: Mar 14 2012 Issue: Mortgage Lending
Forty-nine state attorneys generals and two government agencies have reached a $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and...
- National mortgage Settlement is a game-changer
Published: Feb 17 2012 Issue: Mortgage Lending
A lawsuit highlights possible foreclosure fraud, as loan servicing employees admit they don’t actually review foreclosure documents; instead they do "robo-signing.
- Balancing Risk and Access: Underwriting Standards for Qualified Residential Mortgages
Published: Jan 18 2012 Issue: Mortgage Lending
Mandatory down payments on mortgages would put fairly-priced loans out of reach for millions of creditworthy families.
- Comments on the Federal Housing Finance Agency Joint Initiative on Mortgage Servicing Issues
Published: Dec 27 2011 Issue: Mortgage Lending
FHFA has the mandate and the opportunity to improve mortgage servicing practices. CRL recommends incentives to encourage better service by loan servicers and to promote more timely and effective...
- Foreclosure Counseling: Areas of Greatest Need in 2011
Published: Dec 1 2011 Issue: Mortgage Lending
Which areas of the U.S. have been hardest hit by the foreclosure crisis in 2011? Which areas have the greatest need for foreclosure counselors? This report analyzes 366 metropolitan and 577...
- Facing the Foreclosure Crisis:
Four Urgent Needs to Address Now.
Published: Nov 29 2011 Issue: Mortgage Lending
This policy brief is a companion piece to CRL's foreclosure research, "Lost Ground, 2011." Here we discuss practical policies that would help stop the foreclosure epidemic and restore confidence in...
- Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosures
Published: Nov 17 2011 Issue: Mortgage Lending
CRL's research shows we're not even halfway through the foreclosure crisis. "Lost Ground" covers the scope of the crisis, the impact by race and ethnicity, and foreclosures and serious...
- Disparities in Mortgage Lending and Foreclosures: Maps and Data
Published: Nov 17 2011 Issue: Mortgage Lending
Click on a state to view foreclosures and serious delinquencies by state and metropolitan area. Also: see 8 charts that break the information down further by demographics and income.
- Amici Curiae CSJ and CRL in Guillaume
Published: Sep 26 2011 Issue: Mortgage Lending
CRL filed an amicus brief to the New Jersey Supreme Court, advocating for strict compliance with New Jersey’s Fair Foreclosure Act and the federal Truth in Lending Act’s intentional reordering of...
- Coalition Urges Strong Servicing Settlement that Holds Banks Accountable
Published: Aug 24 2011 Issue: Mortgage Lending
As 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...
- Qualified Residential Mortgages: How long does it take to save 10%?
Published: Aug 5 2011 Issue: Mortgage Lending
See how qualified residential mortgage proposals to require prospective homeowners to make a 10 percent down payment would arbitrarily lock creditworthy borrowers out of the market.