House Passes Predatory Lending Bill
Kapolei mortgage industry could be affected is bill moves forward
A step was taken yesterday in the war on predatory lending as the House passed HR 3915, which is sometimes referred to as the Anti-Predatory Lending Bill. While some praise the fact that the bill requires mortgage lenders to become better educated and licensed, some are upset about other provisions in the bill. Consumer groups especially worry about how some of the weaker federal standards could pre-empt tough state standards against predatory lending.
A version of a predatory lending bill is being worked on in the Senate, and consumer groups hope that the strengths of the bill, such as tougher lender standards, remain while consumer issues are addressed and remedied.
For more information on the predatory lending bill, and on Kapolei mortgage programs and real estate, contact John Riggins.
Related Links
More on the Predatory Lending Bill
Information about the details of the House version of the predatory lending bill
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Kapolei Mortgage and Real Estate News
Kapolei community information and real estate
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