TITLE

Provisions in a 2007 Mortgage Reform Bill (H.R. 3915) Would Strengthen Borrower Protections, but Views on Their Long-term Impact Differ

AUTHOR(S)
Shear, William B.
PUB. DATE
July 2009
SOURCE
GAO Reports;7/31/2009, preceding p1
SOURCE TYPE
Government Documents
DOC. TYPE
Article
ABSTRACT
The article presents a study, conducted by the U.S. Government Accountability Office, which discusses the number of nonprime loans that satisfy the safe harbor requirements of a 2007 Mortgage Reform Bill ( H.R. 3915) in the U.S. It also focuses on the factors which affect the performance of these loans, and the effect of the bill provisions on the availability of mortgage credit. It was found that 75% of the nonprime loans approved during 2000-2007 would not have met the bill's requirement.
ACCESSION #
43692032

 

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