|
| |
subprime loans: Curtailing Subprime Lending in Congress - 05/01/07 09:28 AM
Legislation aimed at limiting the reach of subprime lenders was introduced into Congress on Friday.
The Predatory Lending Practice Reduction Act of 2007 calls for federal certification of mortgage brokers and agents and harsher penalties for violations.
"Predatory lending is a leading cause of foreclosures across this country," said U.S. Rep. Stephanie Tubbs Jones (D-Ohio), who introduced the bill. "It compromises the opportunity to own a home and hinders economic stability, creating greater disparities in wealth."
Forclosure or failed mortgages will strike more than 2 million American homeowners in the subprime market by the year's end, according to the Center for Responsible Lending, a … (5 comments)
|
|
|
|
|
|
Brandon Laughridge
Columbia,
IL
More about me…
Mortgage Loan Place
Email Me
 Links
Archives
|
|
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2012 ActiveRain Corp. All Rights Reserved
;)
;)