Review Mortgage Lenders

Affirmative Mortgage

1998: Sec. Andrew Cuomo Defends Affirmative Action Mortgage Policy

Andrew Cuomo admits "affirmative action" determined housing policy during his tenure at HUD. New York's new governor defiantly ...

PA Supreme Court Holds Borrower Not Entitled to Atty's Fees for Aff Def Under Act 6

Is available at: Link to Opinion.

The borrower defaulted on his mortgage loan, and the mortgagee filed a foreclosure action. Thereafter, the borrower answered the foreclosure complaint and asserted as an affirmative defense an alleged violation of § 403(a) of Act 6, which, according to the Court, is an “extensive program designed to avoid mortgage foreclosures” and requires in relevant part that:

Before any residential mortgage lender may accelerate the maturity of any residential mortgage obligation, commence any legal action including mortgage foreclosure to recover under such obligation, or take possession of any security of the residential mortgage debtor for such residential mortgage obligation, such person shall give the residential mortgage debtor notice of such intention at least thirty days in advance as provided in this section. 41 P.S. § 403(a).

The mortgagee moved for summary judgment. The trial court denied the mortgagee’s motion for summary judgment based upon unresolved factual issues surrounding in part the borrower’s affirmative defense under § 403(a) of Act 6. The mortgagee dismissed the foreclosure action without prejudice a week later.

As The Country Celebrates 'Independence Day,' Jeff Sessions ...

The devil is working hard, but Attorney General Jeff Sessions is working harder. As patriotic Americans gear up to celebrate the Fourth of July, or better yet, gear up to enjoy a holiday barbecue with loved ones, the Department of Justice (DOJ) has been preying on the rights of we, the people. More specifically, we, the minorities.

According to a release from the DOJ, Sessions is “rescinding 24 guidance documents that were unnecessary, outdated, inconsistent with existing law, or otherwise improper.”  Law & Crime  reports that each of the points was initially drafted to offer basic legal and political understanding to various and distinct minority groups, broadly defined, throughout the United States. 

So what does that mean for us? 

Rescinding the documents doesn't leave us entirely out to dry as it will not affect the law in itself. What it will do, however, is make the legal language harder for the average non-lawyer to understand. In turn, it could infringe on our rights if we don't know how the law protects us. 

anybody recall the details how bill clinton got the affirmative action mortgage laws changed in 1995?

robert greenwald and james h.

In the late 1990's, the then CEO Franklin Raines relaxed lending standards at Fannie Mae to allow subprime borrowers to obtain loans. This was done under the direction of the Clinton Administration. Relaxing of Lending Standards