Legislative War Looms Over Reform, Predatory Lending
April 9, 2001
The debate over which reform track to take in addressing predatory lending intensified at an industry annual conference last week, raising the probability of a legislative showdown between mortgage lenders and consumer groups. Mortgage groups promoting the concept of a guaranteed-cost packaged services in return for relief from the Real Estate Settlement Procedures Act’s anti-kickback provisions remained at odds, not only with consumer groups but also with third-party service providers.