Regulation of Subprime and Predatory Lending
International Encyclopedia of Housing and Home, 2010
15 Pages Posted: 2 Apr 2009
Date Written: April 1, 2009
This is an entry on the Regulation of Subprime and Predatory Lending for THE INTERNATIONAL ENCYCLOPEDIA OF HOUSING AND HOME (Elsevier Ltd, 2010). This entry provides a brief introduction to the explosive development of the subprime mortgage market. It then enumerates the abusive practices that were found in that market until it was effectively shut down at the outset of the ongoing credit crisis. It then reviews the limited federal and state legislative and regulatory responses to various abusive practices. It concludes that abusive practices will likely resurface once underwriting standards loosen, as they inevitably will.
Keywords: subprime, mortgage, consumer protection, housing finance, predatory lending
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