Rep. Frank - Mortgage Reform Motion to Recommit

The House debates the Mortgage Reform and Anti-Predatory Lending Act of 2007. The bill is aimed at curbing predatory lending, which has been a major factor in the highest home foreclosure rate in the nation in at least 25 years. A key element of the legislation ensures that lenders will be responsible for underwriting loans that consumers have a reasonable ability to repay while prohibiting practices that increase the risk of foreclosure for consumers. The bill also mandates that all mortgage lenders are licensed and registered under state or federal law. The legislation also protects consumers from being steered into loans that aren't in their best interest, and if they refinance there must be a tangible benefit to the consumer. Financial Services Chairman Barney Frank mocks the Republican Motion to Recommit the bill.

Category:

News & Politics

Tags:

• Democrats
• Subprime
• Mortgage
• Reform
• and
• Anti-Predatory
• Lending
• Act

[anubismoon]

barney for president

[sheepwshotguns]

barney you rock!

[AwesomeBeatles]

Barney you are right "Making sense of the 9/11 cover up" on You Tube, by Christopher Bollyn is very thought provoking.

[kagasan2008]

I can barely understand anything that bastard says. lol. He sounds like Elmer Fudd and spits when he talks like Daffy Duck!

[davea0511]

He he he ... only Massachusetts would elect Elmer Fudd as a congressman. Elmer Fudd would rather give home loans to those who can't afford it (subprime) than to legal aliens who can afford it and contribute to our economy.

No wonder Fannie Mae and Freddie Mac failed. Thanks a lot, Elmer Fudd.

[MortgageLookout]

It is really hard to block illegals from getting Mortgage Loans because there is a great willingness to ignore fake Drivers Licenses. On Barney's point, even I would know an authentic Peruvian passport if I saw one.

[jprg1966]

Hahaha. Oops.