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Home » Store » News » Predatory Lending Law in Upscale Maryland County Roils Sec-ondary Mortgage Market

Predatory Lending Law in Upscale Maryland County Roils Sec-ondary Mortgage Market

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Several non-agency MBS issuers have announced they’ll stop doing business in Montgomery County, MD, as a result of concerns about the jurisdiction’s new predatory lending statute. Mortgage industry groups have mounted a court challenge to the controversial ordinance in the affluent suburb of Washington, DC. But even as lender interests called more attention to the law, Standard & Poor’s this week announced that it would continue to rate mortgage securities backed by loans governed…
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