Senator Christopher Dodd, Chairman of the Banking Committee in the Senate, is calling for the mortgage industry to take greater control over lending practices. The Connecticut Democrat believes that federal regulators may need to intervene.
Home mortgage delinquency and foreclosure rates have been rising, and the impact could be greatest on low-income families that took [...]

Posted in Lawsuits Against Lenders, Real Estate Market News, Scams No Comments »

In this post on TPM Cafe, entitled Do Prepayment Penalties Help Consumers by Lowering Rates? the author discusses the onerous nature of prepayment penalties. For those of you who don’t know what they are, a prepayment penalty is a charge that is incurred by a borrower for paying a mortgage loan off early, which [...]

Posted in Scams No Comments »