Financial News: Predatory Lending Bill

Yesterday, the House rushed to pass their version of a bill that is supposed to stop predatory lending. But the general consensus is this: nobody likes it. Not consumer groups, not the mortgage industry. Well, Inman News reports that some might like it:
Rep. Tom Feeney, R-Fla., called HR 3915 “the landlords and lawyers relief act,” because he said it would make it more difficult for renters to become home buyers, and make lenders and the investors who back them more vulnerable to lawsuits.
Why are so many hating on what appears, at least by the long title (Mortgage Reform and Anti-Predatory …read more