Developments in State and Federal Mortgage Lending Laws: Predatory Lending and Beyond

摘要

As federal lawmakers continue to regulate further the mortgage industry, state legislatures and regulators are answering the call with increased regulation of mortgage lenders, brokers, loan originators, and their loan products. However, while some states have acted independently to revise laws restricting loan products and terms, much of the state activity in 2009 has been driven by federal requirements. States are revising licensing and other lending laws to conform to enacted and anticipated federal requirements. With several major federal initiatives pending, it seems likely that states will continue to follow the federal government's lead regarding mortgage regulation.