Rep. Ellison: Mortgage Reform and Anti-Predatory Lending Act

Rep. Ellison: Mortgage Reform and Anti-Predatory Lending Act. Rep. Miller: Mortgage Reform and Anti-Predatory Lending Act

Rep. Ellison: Mortgage Reform and Anti-Predatory Lending Act video duration 2 Minute(s) 13 Second(s), published by Nancy Pelosi on 15 11 2007 - 18:11:42.

The House debates the Mortgage Reform and Anti-Predatory Lending Act of 2007
The bill is aimed at curbing predatory lending, which has been a major factor

From Rep
Mark Kirk's (R-IL) March 1, 2009 appearance on Fox Chicago Sunday Rep
Virginia Foxx Blames Mortgage Crisis on Welfare Mentality The House debates the Mortgage Reform and Anti-Predatory Lending Act of 2007
The bill is aimed at curbing predatory lending, which has been a major factor .

The House debates the Mortgage Reform and Anti-Predatory Lending Act of 2007. The bill is aimed at curbing predatory lending, which has been a major factor in the highest home foreclosure rate in the nation in at least 25 years. A key element of the legislation ensures that lenders will be responsible for underwriting loans that consumers have a reasonable ability to repay while prohibiting practices that increase the risk of foreclosure for consumers. The bill also mandates that all mortgage lenders are licensed and registered under state or federal law. The legislation also protects consumers from being steered into loans that aren't in their best interest, and if they refinance there must be a tangible benefit to the consumer. Sponsor Keith Ellison speaks in favor.