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Home » Store » News » Mixed Reactions to Kanjorski-Ney Anti-PL Bill

Mixed Reactions to Kanjorski-Ney Anti-PL Bill

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Bipartisan anti-predatory lending legislation introduced last week by Reps. Bob Ney, R-OH and Paul Kanjorski, D-PA, is getting mixed reviews from primary and secondary mortgage market industry groups. The long-awaited bill, the “Responsible Lending Act of 2005,” would establish strong national standards to protect consumers in the subprime mortgage market. Importantly, the standards would preempt the patchwork of state and local anti-predatory lending laws that lenders say make compliance too complicated and costly. …
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