Rep. Frank - Mortgage Reform and Anti-Predatory Lending Act

Rep. Frank - Mortgage Reform and Anti-Predatory Lending Act. Rep. Courtney and Attorney General Blumenthal warn residents of possible mortgage scheme

Rep. Frank - Mortgage Reform and Anti-Predatory Lending Act video duration 5 Minute(s) 12 Second(s), published by Nancy Pelosi on 15 11 2007 - 15:09:33.

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 After learning about a possible scheme to bilk struggling Connecticut families, Congressman Joe Courtney alerted State Attorney General Richard Blumenthal.

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Ed Towns discusses the Subprime Mortgage Crisis with John Hope Bryant and Stacy Tisdale
This is part 1 of 3 After learning about a possible scheme to bilk struggling Connecticut families, Congressman Joe Courtney alerted State Attorney General Richard Blumenthal.

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. Financial Services Chairman Barney Frank speaks during debate on the rule.