Items Tagged with 'Alternative Mortgage Transaction Parity Act'


  • House OKs Mortgage Reform

    The House of Representatives today voted 300-114 in favor of HR 1728, the Mortgage Reform and Anti-Predatory Lending Act, which calls for tighter lending rules to promote affordable mortgages for borrowers with a reasonable ability to pay and who receive more transparent disclosures at the time of closing.
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  • House Committee Eyes Mortgage Reform

    The House Financial Services Committee is slated this week to hold a hearing on mortgage reform legislation. Representatives Brad Miller, D-N.C., and Mel Watt, D-N.C., last month introduced the bill, H.R. 1728 -- called the Mortgage Reform and Anti-Predatory Lending Act of 2009 -- which aims to curb predatory lending, "which has been a major factor in the highest home foreclosure rate in the nation in 25 years," the committee said in a statement.
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  • Fed Chief Says Lenders Need to Write Off Mortgage Principal

    It's time to start writing off principal amounts on mortgages. That's the message Federal Reserve chairman Ben Bernanke has for the mortgage banking industry, as the U.S. economy faces increasing peril amid a worsening housing crisis. In remarks delivered Tuesday to the Independent Community Bankers of America Annual Convention in Orlando, Bernanke said lenders and investors need to be more willing to reduce the principal balance of many mortgages if foreclosures are ultimately to be avoided.
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