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Home » Store » News » Mortgage Brokers Seek Changes in Federal Preemption Legislation, Preservation of Yield-Spread Premiums

Mortgage Brokers Seek Changes in Federal Preemption Legislation, Preservation of Yield-Spread Premiums

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The mortgage broker industry came to Washington this week to lobby for pro-industry changes in a controversial House bill that would provide a federal preemption of state and local predatory lending laws – a bill that consumer advocates already oppose. Overall, the National Association of Mortgage Brokers, which had its annual legislative and regulatory conference in Washington, DC, this week, continues to believe that the Ney-Kanjorski subprime lending bill unfairly targets mortgage brokers. But the…
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