Georgia Mortgage-Abuse Law Throws a Chill Into Secondary Market, Securitization Players
October 4, 2002
Secondary market players are treading lightly in Georgia, where a new predatory lending law that went into effect this week has prompted some securities issuers and subprime mortgage lenders to curb their activities. Passed earlier this year despite opposition from industry groups, the Georgia Fair Lending Act defines two classes of “high-cost” and “covered” mortgages that carry special consumer protections. But most important for