Comments on: Why All Mortgage Originators Should Care About H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Wed, 10 Mar 2010 20:33:02 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: oswin grant http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4294 oswin grant Mon, 25 May 2009 02:08:26 +0000 http://lenderama.com/?p=2552#comment-4294 I just came across your blog about Housing and wanted to drop you a comment telling you how impressed I was with the information you have posted here. I also have a web site & blog about Housing Problems and Solutions so I know what I'm talking about when I say your site is top-notch! Keep up the great work, you are providing a great resource on the Internet. I just came across your blog about Housing and wanted to drop you a comment telling you how impressed I was with the information you have posted here. I also have a web site & blog about Housing Problems and Solutions so I know what I'm talking about when I say your site is top-notch! Keep up the great work, you are providing a great resource on the Internet.

]]> By: Mark Madsen http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4295 Mark Madsen Thu, 21 May 2009 15:14:32 +0000 http://lenderama.com/?p=2552#comment-4295 "The bill is designed to encourage traditional, fixed rate mortgages which are known to be safer."<br><br>The only safe loan is one that borrowers are able to pay. It also helps if the borrowers understand the terms of the loan as well. <br><br>"Its main weakness is that it does not create strong enough penalties for companies who break the rules. "<br><br>This bill will allow borrowers to seek punitive damages from loan originators and lenders for up to three times the loan amount on all non-30 year fixed programs. What this bill does not have are measures that penalize borrowers and other parties to the transaction that break the rules. “The bill is designed to encourage traditional, fixed rate mortgages which are known to be safer.”

The only safe loan is one that borrowers are able to pay. It also helps if the borrowers understand the terms of the loan as well.

“Its main weakness is that it does not create strong enough penalties for companies who break the rules. “

This bill will allow borrowers to seek punitive damages from loan originators and lenders for up to three times the loan amount on all non-30 year fixed programs. What this bill does not have are measures that penalize borrowers and other parties to the transaction that break the rules.

]]> By: Mortgage_Chili_Blogger http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4299 Mortgage_Chili_Blogger Wed, 20 May 2009 13:43:54 +0000 http://lenderama.com/?p=2552#comment-4299 Mark - as usually, your research is helping those of us in the industry - well done.<br><br>Chris Mark – as usually, your research is helping those of us in the industry – well done.

Chris

]]> By: Argiel http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4297 Argiel Wed, 20 May 2009 02:16:04 +0000 http://lenderama.com/?p=2552#comment-4297 The bill is designed to encourage traditional, fixed rate mortgages which are known to be safer.However, from the consumer perspective H.R. 1728 is not perfect. Its main weakness is that it does not create strong enough penalties for companies who break the rules. <br><br><a href="http://www.rmapply.com" rel="nofollow">Reverse Mortgage</a> The bill is designed to encourage traditional, fixed rate mortgages which are known to be safer.However, from the consumer perspective H.R. 1728 is not perfect. Its main weakness is that it does not create strong enough penalties for companies who break the rules.

Reverse Mortgage

]]> By: Why All Mortgage Originators Should Care About H.R. 1728: Mortgage … | Mortgage http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4298 Why All Mortgage Originators Should Care About H.R. 1728: Mortgage … | Mortgage Tue, 19 May 2009 14:15:47 +0000 http://lenderama.com/?p=2552#comment-4298 [...] post:  Why All Mortgage Originators Should Care About H.R. 1728: Mortgage … Related Posts:Municipal Mortgage & Equity Sells Agency Lending Business ...US Congress Gives [...] [...] post:  Why All Mortgage Originators Should Care About H.R. 1728: Mortgage … Related Posts:Municipal Mortgage & Equity Sells Agency Lending Business …US Congress Gives [...]

]]> By: Supporters of H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act Believe Borrowers Were Duped Into Bad Loans — Lenderama http://lenderama.com/2009/05/19/why-all-mortgage-originators-should-care-about-hr-1728-mortgage-reform-and-anti-predatory-lending-act/comment-page-1/#comment-4296 Supporters of H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act Believe Borrowers Were Duped Into Bad Loans — Lenderama Tue, 19 May 2009 08:05:58 +0000 http://lenderama.com/?p=2552#comment-4296 [...] Why All Mortgage Originators Should Care About H.R. 1728: Mortgage Reform and Anti-Predatory Lending... [...] [...] Why All Mortgage Originators Should Care About H.R. 1728: Mortgage Reform and Anti-Predatory Lending… [...]

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