Treasury Secretary Lawrence H. Summers and you may Housing and you may Metropolitan Development Assistant Andrew Cuomo now put-out a joint HUD-Treasury statement detailing advice on legislative, regulating, or other tips so you can suppress the new growing occurrence off predatory mortgage credit.
This type of important recommendations can assist manage Western families on the abusive methods of a few unethical lenders, said Assistant Summers. Predatory credit techniques should have no place throughout the subprime field, or any other field.
Assistant Cuomo told you: Predatory lenders is greedily consuming families’ life discounts and you can damaging a neighborhoods throughout the nation. We read headache tales from the our very own discussion boards within the country throughout the the distress these lenders provides caused, and you can People in Congress know an identical tales. I query Congress to participate you and flow fast provide Western homebuyers the protection they require off predatory lenders. Continue lendo HUD, TREASURY Launch Mutual Statement Recommending Actions In order to Curb PREDATORY Credit