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Articles tagged with: Mortgage Market

Letter to Regulator: AFR, 8 organizations provide detailed recommendations to FHFA to improve language access in the mortgage industry
August 1, 2017 – 4:10 pm

“The burden of interpreting financial services jargon and communicating with lenders and servicers should not rest solely on borrowers. . . . Expanding access to language services throughout the mortgage process would begin to equalize a system that currently undermines the ability of LEP borrowers to understand the complexities of their future homeownership prospects and to protect their home after purchasing it.”

AFR Statement: CFPB Merits Praise for Laying out “Principles for the Future of Loss Mitigation”
August 2, 2016 – 5:34 pm

“AFR hopes that other agencies and private investors recognize the CFPB’s thoughtful recommendations and that the CFPB will remain an active participant in this important conversation.”

AFR Issue Brief: Fair Treatment of Homeowners with Limited English Proficiency
May 26, 2016 – 9:00 am

A newly released paper urges regulators to make it easier for people with limited English proficiency (LEP) to understand and navigate the financial system, especially the mortgage loan market. A companion paper tells the stories of several LEP homeowners who belatedly discovered unfavorable mortgage terms and had great difficulty securing loan modifications.

Letter to Regulators: Doing Better by Mortgage Applicants Who Are Not Fluent in English
March 24, 2016 – 10:45 am

“Allowing mortgage applicants to choose in which language they are most comfortable in communicating addresses a major problem of lenders and servicers working with limited English proficiency (LEP) populations and collecting this information through the URLA is the most comprehensive way to do so, because every mortgage borrower fills one out.”

AFR in the News: The Billionaire Banker in The Shadows (Forbes)
March 4, 2016 – 6:44 pm

“In a stroke of brilliant financial maneuvering Lone Star bundled some of the mortgages into bonds and sold them to investors, immediately booking large profits… ‘Lone Star has bought these loans at a discount from the government–-in effect, they got principal reduction. But they are not passing this benefit on to homeowners or communities,’ says Lisa Donner, executive director of Americans for Financial Reform.

AFR Statement: Two Bad Bills Win House Approval
November 20, 2015 – 4:04 pm

The House of Representatives passed two ill-advised financial deregulation bills on November 18th. Both are giveaways to some of the country’s biggest banks. Both, if they ever became law, would mark a dangerous retreat from …

Press Release: Poll Shows Overwhelming Support for Mortgage Rule at Risk in House Vote Next Week
November 13, 2015 – 3:39 pm

A key mortgage lending reform – which would be rolled back by a bill coming up for a vote in the House of Representatives next week – commands the support of an overwhelming majority of voters, according to a poll conducted this summer by Lake Research on behalf of Americans for Financial Reform and the Center for Responsible Lending.

Joint Press Release: Mayors from 18 Cities Call for an End to Fire Sales of Distressed Housing Assets to Wall Street Speculators
June 22, 2015 – 9:19 am

Following the release of a report by the Center for Popular Democracy and the ACCE Institute detailing sales of troubled mortgages to faulty players, mayors from across the country are calling for mortgage owners and holders to prioritize the sale of troubled mortgages to good actors who can help homeowners struggling in the aftermath of the crisis.