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Mortgage News for Monday - February 3, 2003

More Mortgage News
• Debate rages over impending predatory lending law
• Job-making mortgage refi market to slow down
Mortgage News
Debate rages over impending predatory lending law - 2003-02-03
When New York's "predatory lending law" comes into effect April 3 it will:

a) Keep senior citizens and low- and moderate-income New Yorkers from being preyed on by unscrupulous lenders.

b) Keep low- and moderate-income New Yorkers from getting a mortgage by chilling the subprime lending marking and drying up the secondary market in mortgage pool investments.
Read the full story at The Business Review (Albany)
 
Job-making mortgage refi market to slow down - 2003-02-03
America's refi boom is beginning to die. With it will go one of the liveliest segments of a generally dead East Bay job market.

Now mortgage refinancing activity is starting to weaken, which will have implications for consumer spending and for job opportunities in the East Bay.
Read the full story at East Bay Business Times
 






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