NCLC/CRL Statement for the Record
The document is the NCLC/CRL Statement for the Record for the March 11, 2025 Subcommittee on Economic Opportunity Legislative Hearing.
Search Results
-
-
Fact Sheet: Protecting Homeowners from Zombie Second Mortgages
Remember the subprime mortgage crisis of the early 2000s? One toxic product that contributed to the crisis was the “80-20 mortgage,” where homeowners took out a first and second mortgage simultaneously. When the housing bubble burst, these second mortgages, often held by investors, became worthless. Many homeowners, understandably, believed these second mortgages were dead and…
Read More about Fact Sheet: Protecting Homeowners from Zombie Second Mortgages
-
Fact Sheet for Regulating Shared Appreciation Mortgages; Massachusetts H.3954 / S.731
In November 2024, a provision in the Economic Development bill (Section 269) created a dangerous loophole for homeowners by granting a blanket waiver of liability for non-profit Shared Appreciation Mortgages (SAMs), stripping away crucial consumer protections and leaving homeowners vulnerable to predatory lending practices. H.3954 / S.731 closes the loophole created by Section 269 and…
-
Unlawful Shut Down of Consumer Agency Endangers Working Families, Honest Businesses, the Economy
Consumer advocates warned today that the illegal effort by the Trump Administration to shut down the Consumer Financial Protection Bureau (CFPB) endangers the entire economy.
-
The CFPB: Protecting Servicemembers and Veterans
Companies that profit by cheating and exploiting our military and veterans are attacking the CFPB.
Read More about The CFPB: Protecting Servicemembers and Veterans
