New York State Banking Department To Kick Off Statewide Campaign To Address Abusive Lending & Mortgage Fraud

The New York State Banking Department is kicking off a statewide campaign to address abusive lending and mortgage fraud next week, as reported by Queens Courier Online, at queesncourier.com. Reckless mortgage underwtiting practices and the onslaught of so-called foreclosure rescue services are primary concerns of local consumer advocates. “These predatory and subprime loans are often targeted specifically at people of color, low income and vulnerable people,” said Oda Friedheim, a staff attorney at the Queens Neighborhood Office of the Legal Aid Society.

To read more, see Record number of subprime mortgage foreclosures here.
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