clock menu more-arrow no yes

Filed under:

hex placed on Predatory Lending

Yesterday the House of Representatives approved HR 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007, which calls for a national licensing system for loan originators, and prohibit class-action lawsuits by borrowers, among other provisions. HR 3915 is not without controversy: Some say it provides too many loopholes for investors, while Rep . Tom Feeney (R-Fla) called the bill "the landlords and lawyers relief act," claiming that it will make homeownership more difficult for renters. Next stop, the Senate. [Inman News]