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Displaying results 1 - 10 of 100 items found.

1. Mortgage Reform Bill Passed by the House

(Web Page; Fri Aug 20 11:05:00 CDT 2010)

"We commend the House of Representatives and the House Financial Services Committee Chairman Barney Frank, along with lead sponsors, Reps. Mel Watt and Brad Miller, on the passage of H.R. 1728, the Mortgage Reform and Anti-Predatory Lend...

2. Washington Report: Mortgage Reform Bill

(Web Page; Mon Aug 30 13:43:00 CDT 2010)

A sweeping new mortgage reform bill recently introduced in the U.S. House of Representatives is drawing support from consumer advocates. The measure would discourage lenders from signing off on anything other than traditional 30-year, fi...

3. Modest mortgage reform bill passes CA legislature

(Web Page; Fri Aug 20 11:04:00 CDT 2010)

Oakland—AB 1830, the California legislature's strongest piece of legislation designed to rein in the abuses in the mortgage market, passed the Senate today with a 21-16 vote. It must go back to the Assembly for concurrence before b...

4. House Tries Mortgage Lending Reform Again

(Web Page; Thu Dec 10 17:12:00 CST 2009)

As House lawmakers prepare to vote for a second time on a mortgage reform bill that that would, among other steps, require licenses and registration for mortgage originators and force lenders to take borrowers' debt-to-income ratios and ...

Description: As House lawmakers prepare to vote for a second time on a mortgage reform bill that that would, among other steps, require licenses and registration for mortgage originators and force lenders to take borrowers' debt-to-income ratios and repayment ability into account, consumer advocates insist that the bill has some weak spots. Under the current proposal, lenders have 90 days to fix violations when homeowners bring problems to their attention; and they do not face penalties during this period. Consumer advocates argue that homeowners would need lawyers to determine whether they have a bad loan. "We think the market will just figure this into the cost of doing business," explains the Center for Responsible Lending's Julia Gordon. She also criticizes the measure for exempting trusts and investors from the assignee liability provision, and she faults a new provision that would let federal banking regulators modify the requirement that lenders retain a 5-percent ownership in all mortgages they originate. "Once again, that's giving a special layer of protection to the loans that are clearly the most problematic," Gordon remarks.

5. Senate Adds Mortgage Standards To Regulatory Reform Bill

(Web Page; Tue May 18 10:33:00 CDT 2010)

As part of the regulatory reform bill under consideration in the U.S. Senate, lawmakers approved an amendment that would prohibit yield-spread premiums, force mortgage lenders to verify borrowers' income, and require a proposed consumer ...

6. Mortgage Lending Reform: A Comprehensive Review of the American Mortgage System

(Web Page; Wed Aug 18 14:07:00 CDT 2010)

We suggest a broad, simple framework that addresses the entire mortgage market and that focuses on the underlying incentives in that market. The legislation should establish a bright-line ban on dangerous loan features such as prepayment...

7. Lenders to Battle Proposed Mortgage Reforms in the Senate

(Web Page; Thu Aug 26 13:13:00 CDT 2010)

Consumer advocates support the Wall Street Reform and Consumer Protection Act passed by the House on Dec. 11 because it establishes a Consumer Financial Protection Agency (CFPA), which would oversee the Equal Credit Opportunity Act and f...

8. Support HR 3915: Mortgage Reform and Anti-Predatory Lending Act of 2007

(Web Page; Wed Aug 18 14:18:00 CDT 2010)

Full Text of the Bill (Thomas) Congressman Miller, Congressman Watt, and Chairman Frank introduced the "Mortgage Reform and Anti-Predatory Lending Act of 2007" on October 22, 2007. The proposed legislation addresses many abusive lendi...

9. H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009

(Web Page; Wed Aug 18 13:57:00 CDT 2010)

Congress has an opportunity to prevent another mortgage fiasco by passing stronger protections on home lending. Americans are clear about wanting more accountability throughout the lending chain: Two-thirds of voters surveyed said Wall ...

10. Senate Adds Mortgage Standards to Reform

(Web Page; Thu May 13 14:11:00 CDT 2010)

The Senate took action on May 12 to write home-loan standards into its financial regulatory reform legislation. On a 63-36 vote, the lawmakers approved an amendment from Sens. Jeff Merkley (D-Ore.) and Amy Klobuchar (D-Minn.) that would ...