CRL conducts in-depth research on the extent and impact of predatory lending, to provide useful information to consumers, community advocates, and policymakers alike.
- Don't Mandate Large Down Payments on Home Loans
Published: Mar 1 2011 Issue: Mortgage Lending
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.” ...
- End of the Rapid Rip-off: An Epilogue for Quickie Tax Loans
Published: Feb 28 2011 Issue: Refund Anticipation Loans
The National Consumer Law Center, along with Consumer Federation of America, 2011 annual report about the RAL industry.
- Are There Government Barriers to the Housing Market Recovery?
Published: Feb 16 2011 Issue: Mortgage Lending
CRL testifies that the biggest barrier to housing recovery is continuing foreclosures that could be stopped. Mortgage servicers are foreclosing unnecessarily, and the government has not yet used...
- Consumer Financial Protection Agency will Help American Families and our Economy
Published: Feb 7 2011 Issue: Consumer Financial Protection Bureau
Consumer spending comprises 70% of the U.S. economy, so restoring consumer confidence and demand for products is vital to creating jobs. This is more likely to happen if consumers know that the...
- Wall Street, Not Fannie Mae and Freddie Mac, Led the Toxic Mortgage Market
Published: Jan 26 2011 Issue: Mortgage Lending
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"
Published: Jan 25 2011 Issue: Mortgage Lending
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."
Published: Jan 14 2011 Issue: Mortgage Lending
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...
- Comments to the Federal Reserve Board on Proposed Regulations Under the Truth in Lending Act [Regulation Z; Docket No. R-1390]
Published: Dec 23 2010 Issue: Mortgage Lending
The National Consumer Law Center ("NCLC") respectfully submits the following comments on behalf of its low income clients, as well as Americans for Financial Reform, California Reinvestment...
- Implementing Mortgage Rules for Financial Reform: Recommendations for Defining "Qualified Residential Mortgages" and Formulating Lending and Servicing Standards
Published: Dec 21 2010 Issue: Mortgage Lending
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...
- Summary of Key Provisions (Mortgage Originations) in Dodd-Frank Wall Street Reform and Consumer Protection Act
Published: Dec 1 2010 Issue: Mortgage Lending
Detailed description of provisions in Title XIV: “Mortgage Reform and Anti-Predatory Lending Act” Subtitles A-C: Mortgage Originations
- Military and Payday
Published: Nov 22 2010 Issue: Payday Loans
Military and Payday: Congress acted to protect military families from this predation by including a measure in the Defense Authorization Act of 2006 that prohibits payday and title lenders from...
- Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing
Published: Nov 18 2010 Issue: Mortgage Lending
Senior policy counsel Julia Gordon testifies before a House Financial Services subcommittee on robo-signing and how to use all available tools to address the foreclosure crisis.
- Map of US Payday Stores per Household
Published: Nov 1 2010 Issue: Payday Loans
This color-coded map of payday stores by household reveals a disturbing pattern. Southern states are among the most targeted for these high-cost, low-dollar loans.
- HAMP, Servicer Abuses, and Foreclosure Prevention Strategies
Published: Oct 27 2010 Issue: Mortgage Lending
Julia Gordon, CRL Senior Policy Counsel, testifies before the Congressional Oversight Panel on HAMP, servicer abuses and foreclosure prevention.
- Numbers Game: The True Cost of Credit Card Mail Offers
Published: Oct 25 2010 Issue: Credit Cards
Credit card offers have grown increasingly complex over time. Using a straightforward measure of complexity—the total number of numeric figures that appear on a credit card direct mail offer—this...
- Foreclosure as a Last Resort
Published: Oct 21 2010 Issue: Mortgage Lending
States are in a strong position to stabilize the housing market and prevent unnecessary foreclosures, and the best tool available is mandatory loss mitigation.
- Joint Letter Urging OCC to Curb Overdraft Abuse
Published: Oct 13 2010 Issue: Overdraft Loans
The Center for Responsible Lender added its signature to a letter from national consumer organizations asking the Office of the Comptroller of the Currency (OCC) to adopt stricter overdraft...
- Comment Letter on FDIC's Proposed Overdraft Guidance
Published: Sep 27 2010 Issue: Overdraft Loans
CRL and other consumer advocates filed a comment letter with the FDIC supporting most aspects of the agency's proposed guidance on overdraft. The groups also made recommendations on how the agency...
- Joint Letter in Support of FDIC Overdraft Proposals September 2010
Published: Sep 27 2010 Issue: Overdraft Loans
CRL and a cross-section of civil rights, labor, consumer, housing, community, business, and sustainable and responsible investor groups sent a joint letter to the FDIC expressing support for...
- A National Tragedy: HMDA Data Highlight Homeownership Setbacks for African Americans and Latinos
Published: Sep 24 2010 Issue: Mortgage Lending
Borrowers of color received more unsustainable loans, suffer more than their share of foreclosures, and have less access to credit. The result is that homeownership rates have gone down for...