Predatory Lending Practice

The term used for lenders and loan brokers who capture a whole slew of methods, often times unethical, to benefit the financial institution they represent at the expense of the consumer.

The Pitfalls of Predatory Lending

Predatory lending is a term used to capture a whole slew of techniques used by lenders to ensure the most beneficial terms for the financing institution at the expense of borrowers. While there may be a preconceived notion of these practices affecting particular subsections of the population, predatory lending is something for everyone to watch out for when buying or selling at home.

Many of these types of predatory situations can be resolved by being vigilant and consulting a trusted realtor or related party that has a demonstrated consistent and reliable approach to the home buying process. There are a few steps you can take to ensure that your real estate transaction goes smoothly and therealtor/lending agency combination you choose is out for your best interests...[more Predatory Lending]

Predatory Lending in the News

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Best Sellers on Predatory Lending Practices

The Loan Officer's Practical Guide to Compliance - Federal Laws, Fraud, Predatory Lending and Ethics

by Thomas A. Morgan

Amazon Price: $55.00 (as of 10/07/2008)

American Nightmare: Predatory Lending and the Foreclosure of the American Dream

by Richard Lord

Amazon Price: $16.95 (as of 10/07/2008)

Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership

by Ralph R. Roberts, Rachel Dollar, Joe Kraynak

Amazon Price: $15.56 (as of 10/07/2008)

Why the Poor Pay More: How to Stop Predatory Lending

Amazon Price: $49.95 (as of 10/07/2008)

The impact of local predatory lending laws on the flow of subprime [An article from: Journal of Urban Economics]

by G. Ho, A. Pennington-Cross

Amazon Price: $10.95 (as of 10/07/2008)

Predatory Lending Booklets

Stop predatory lending: A guide for legal advocates, with companion CD-Rom

by Elizabeth Renuart

Amazon Price: (as of 10/07/2008)

Bond Market Association supports federal predatory lending legislation.(Business Alert)(Brief Article): An article from: Mortgage Banking

Amazon Price: $5.95 (as of 10/07/2008)

City governments and predatory lending.: An article from: Fordham Urban Law Journal

by Jonathan L. Entin, Shadya Y. Yazback

Amazon Price: $9.95 (as of 10/07/2008)

Combatting predatory lending.(Legal: Forum): An article from: Soldiers Magazine

by Steven Chucala

Amazon Price: $9.95 (as of 10/07/2008)

Consumer experiences with predatory lending practices.: An article from: Journal of Consumer Affairs

by Ronald Paul Hill, John C. Kozup

Amazon Price: $9.95 (as of 10/07/2008)

Predatory Lending Resources and Information

HUD Predatory Lending: Over the last several years, our nation has made enormous progress in expanding access to capital for previously under served borrowers. Despite this progress, however, too many families are suffering today because of a growing incidence of abusive practices in a segment of the mortgage lending market. Predatory mortgage lending practices strip borrowers of home equity and threaten families with foreclosure, destabilizing the very communities that are beginning to enjoy the fruits of our nation's economic success...
Predatory Lending - Wikipedia: Predatory lending is a pejorative term used to describe practices of some lenders. There are no legal definitions in the United States of predatory lending, though there are laws against many of the specific practices commonly identified as predatory, and various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry...
Department of Real Estate: Predatory Lending: If you are in the market for a new loan to purchase real property or a loan to refinance an existing mortgage, the mortgage market place offers numerous types of loan products. Being knowledgeable about the loan process will help you find the most desirable loan product and avoid the pitfalls of predatory lending...
Slow Economic Growth Fuels Lower Mortgage Rates: I could talk a long time about any statistic, but this is any number that is crunched is considered significant. What is a solution to this problem? We could lower the mortgage, but that means that the prices of the houses may go up due to the War in Iraq, but that is another story. Virginia mentioned how their mortgage rates have lowered, and are now seeking Realtors for help...
Beware of Taking Loans: What's the most perplexing and frustrating situation that a new (and sometimes, even experienced!) real estate investor finds himself in? Undoubtedly, it's getting the deals funded. Very often, it happens that when a real estate investor wishes to close a great deal but has difficulty getting the money to do it, he might inevitably resort to taking a loan on a home for sale. But sometimes, that could get an investor into really big trouble...
Mortgage Lender Home Loan Types & Financing Options: There are many different types of home loan financing options to help you finance your new home. Qualifying for different types of financing may also dictate what the location will be (in town or out in the country) and also type of home you purchase...
The Validity Of Non-Traditional Mortgages: As interest rates have begun to creep back up after such a long period of low interest rates and the tantalizing mortgages that correspond to any kind of low interest period, interest has increased in mortgages touting low down payments or low monthly payments. These mortgages often have wrinkles to them that work creatively to appear attractive to prospective home buyers and have spawned continued growth in many real estate markets...
Bad Credit Is Not A Death Sentence: Many potential new home buyers have been discouraged from purchasing real estate by the perception that those with bad credit have no ability to do so. While it can be difficult to purchase a home with a bad credit rating, it is certainly not impossible. What is true is that it higher fees and interest rates are the price potential home buyers pay for a less-than-stellar credit rating...
Center for Responsible Lending: The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation's largest community development financial institutions...
Predatory Lending Consumer Protection Act: Definition of "High Cost" Mortgage: the legislation tightens the definition of a "high cost mortgage" for which certain consumer protections are triggered. The new definition, which amends the "Home Ownership Equity Protection Act," (HOEPA) is as follows...

Predatory Lending Blog Posts

Michigan homeowners could get relief from predatory lending (WZZM ...: Michigan homeowners could get relief from predatory lending Quoted With Edits From: Michigan homeown...
Brown reaches multibillion-dollar settlement with Countrywide over ...: SAN FRANCISCO - Saying its predatory lending practices turned the dream of home ownership into a nig...
Predatory lending practices take a human toll: Addie Polk's story helps put a human face on the victims of the predatory lending practices that c...
Attorney General Brown Announces Largest Predatory Lending ...: By Frank D. Russo California Attorney General Brown was the first of many state's Attorneys Genera...

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