Mortgage Lending

Home ownership has been the primary means for most American families to build and pass on inter-generational wealth. However, government-sanctioned racial discrimination in housing and mortgage finance markets robbed many families of this opportunity, and today’s racial homeownership gap is barely changed from the levels of more than 50 years ago. Closing the homeownership gap is essential to closing the racial wealth gap.  Additionally, predatory mortgage lending practices drained trillions in wealth from families, especially Black, Latino, low wealth and low-income Americans. CRL successfully advocated for the Dodd-Frank Wall Street Reform and Consumer Protection Act, which has made the mortgage market far safer for consumers. CRL is building on this progress by working to ensure that all credit-worthy borrowers have access to fair, affordable, and sustainable mortgages. And that policy makers and market participants develop solutions that are appropriate to respond to the scale of this housing crisis. 

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SB 1149 North Carolina's Predatory Mortgage Lending Law

In 1999, North Carolina became the first state to enact legislation to curb predatory mortgage lending. Over the many years since, the North Carolina law has proven its effectiveness in curtailing predatory lending while preserving a robust subprime lending market. Full Text of the Law Short Summary of SB 1149 Full Summary of SB 1149 During the first year after...

1999 NC Predatory Lending Law

Full Text of the Law Short Summary of SB 1149 Full Summary of SB 1149 In 1999, North Carolina became the first state to enact legislation to curb predatory mortgage lending. Over the many years since, the North Carolina law has proven its effectiveness in curtailing predatory lending while preserving a robust subprime lending market. During the first year after...
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