Predatory Lending Outlook - CD + Special Report (W) CD + Special Report - North America (includes shipping)
This audio conference was held in February 2007.
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With many over-extended borrowers facing loan resets in the coming months and mortgage delinquencies set to peak in the second quarter of the year, the industry spotlight has been thrust upon nontraditional mortgages and rekindled the debate surrounding predatory lending.
Last September federal regulators fired the initial salvo with their nontraditional mortgage lending guidelines. The states were quick to pick up the flag and adopt their own measures. Regulatory issues have gained additional momentum with the House Financial Services Committee’s chairman, Rep. Barney Frank (D-MA), announcing that developing mortgage suitability standards is at the forefront of his agenda. Mortgage industry trade groups and consumer advocates have differing views. Will regulatory efforts help consumers, or limit their access to credit? The debate starts now.
IMF has assembled a panel of experts to report on the latest developments in this controversial topic and to help you understand how these issues will impact your business.SPEAKERS:
- The federal outlook with Serena Owens, Chief of Planning and Program Development, Division of Supervision and Consumer Protection, FDIC
- What’s next at the state level by Mark Pearce, Deputy Commissioner of Banks, North Carolina Office of the Commissioner of Banks
- The legal view on the federal climate by Donald C. Lampe, Attorney, Womble Carlyle Sandridge & Rice
- The consumer perspective by Margot Saunders, Managing Attorney, National Consumer Law Center
- Moderated by Guy Cecala, Inside Mortgage Finance Publications.
- The current debate over expanding the federal interagency guidelines on nontraditional mortgages to include hybrid ARMs and other types of loans
- The potential litigation risks for lenders not adhering to the agencies’ regulatory guidance
- Will anti-predatory lending and suitability measures on the state level lead to a national law?
- How suitability demands might expose lenders to new legal and reputational risks
- Regulatory and legal viewpoints on whether lenders should function as agents or fiduciaries
- Investor liability for nontraditional mortgage securities.
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