Van Hollen Statement on Passage of the Mortgage Reform and Anti-Predatory Lending Act of 2009

Press Release

Today, Congressman Chris Van Hollen (D-MD) issued the following statement on House passage of the Mortgage Reform and Anti-Predatory Lending Act of 2009:

"Today, the House continued its effort to protect consumers and prevent future financial collapse by passing the bipartisan Mortgage Reform and Anti-Predatory Lending Act of 2009. This legislation represents comprehensive reform, making sure that the mortgage industry follows basic principles of sound lending, responsibility and consumer protection.

"It will finally put a stop to the egregious and irresponsible mortgage loan practices that have taken advantage of too many American families, contributed to the nation's highest home foreclosure rate in 25 years, and was a central factor of our current economic meltdown. It also protects tenants who rent homes that have gone into foreclosure, ensuring they receive proper notification and have time to relocate before the home they rent is foreclosed.

"In the last two weeks, the House has passed the Credit Cardholders' Bill of Rights, tough anti-fraud legislation to protect taxpayers and increase accountability, and now mortgage and anti-predatory lending reform. We are committed to protecting consumers and rebuilding our economy in a way that is consistent with our values of hard work, responsibility and broadly shared prosperity."

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