2009-05-11blownmortgage.com

"While there’s plenty of finger pointing to go around as to who’s to blame for the current recession and widening crisis, most would agree that predatory lending practices played a role in the damaging of financial markets. As a result, we’ve quietly awaited steps that will lead to tighter restrictions on lenders and how they’ll be able to operate in the future. Steps were taken to do just that today with the passing of H.R. 1728 in the House, also known as the Mortgage Reform and Anti-Predatory Lending Act. The act will take a number of steps to make sure we don’t repeat the mistakes of the past, and you can read the whole bill right here, if you’re curious."


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