Predatory Lending

Foundation to Tackle Predatory Lending 

In the wake of the ongoing mortgage foreclosure crisis fueled in part by predatory lending, one foundation is aiming to restore consumer confidence. The effort will allow borrowers the option of using lenders that are certified as “safe,” “fair” and free of predatory lending, under a 21-member national network known as nonprofit “Fair Mortgage Collaborative” (FMC). “During uncertain economic times, American families need someone to look out for their best interest,” says Janet Murguia, president and CEO of National Council of La Raza, a Collaborative member organization.