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Home » Lenders, Brokers Win One, Philly Ordinance Eliminated
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Lenders, Brokers Win One, Philly Ordinance Eliminated

July 2, 2001
Mortgage lenders and brokers scored a major victory in Pennsylvania with the passage of state legislation overriding Philadelphia’s controversial anti-predatory lending ordinance. The industry-supported bill passed the House on June 21 as an amendment to a Senate mortgage broker licensing bill. Hours later, the Senate approved the legislation. The House voted 152-41 in favor of the bill while the Senate approved it by a vote of 43-4. Republican Gov. Tom Ridge has signed it into
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