subprime lending

TWO-BILL PACKAGE CRAFTED TO PROTECT CONSUMERS FROM FALLOUT OF SUBPRIME MORTGAGE MELTDOWN

Measures Aim to Combat Foreclosure Scams, Dubious Rate-Baiting Tactics

(TRENTON) - Two legislative measures poised for introduction today would give consumers new levels of protection from foreclosure rescue scams and exploitative mortgage rate-setting practices that are on the rise in the wake of the meltdown in the nation's subprime mortgage market.

COHEN ASKS DOBI TO CREATE SUBPRIME MORTGAGE FORECLOSURE HOTLINE

Toll-Free Number Would Direct Callers to Organizations Providing Mortgage Refinancing Counseling

(ROSELLE) – Assembly Deputy Speaker Neil M. Cohen today called for a state-run, toll-free telephone hotline to be established that would offer counseling and advice to New Jersey homeowners facing home mortgage foreclosure due to the continuing collapse of the nation’s subprime lending market.

COHEN: CONSUMER PROTECTIONS ARE GOAL
OF EXAMINATION OF SUBPRIME LENDING CRISIS

(TRENTON) - Assemblyman Neil M. Cohen, chairman of the Assembly Financial Institutions and Insurance Committee, today said his panel is launching an exhaustive examination of New Jersey's subprime lending market in an effort to identify potential consumer safeguards and protect the cherished American value of homeownership.

COHEN ASKS ATTORNEY GENERAL FOR MORATORIUM ON SUBPRIME MORTGAGE FORECLOSURES

Request Made to Keep Residents in Homes, Stave off Economic Repercussions

(ROSELLE) - Assembly Deputy Speaker Neil M. Cohen today called for a state-imposed moratorium on subprime mortgage loan foreclosures, pending an investigation into the burgeoning problems in the subprime lending market and its effects on New Jersey homeowners.

COHEN PLANNING HEARING ON SUBPRIME LENDING

(TRENTON) - Assemblyman Neil M. Cohen today announced he plans to hold a special hearing of the Assembly Financial Institutions and Insurance Committee focused on the burgeoning problems in the housing subprime lending market and its implications for New Jersey residents.