House approves mortgage reform act: The U.S. House of Representatives approved the Mortgage Reform and
Anti-Predatory Lending Act to protect consumers by curbing abusive
lending practices. The bill will make it illegal for lenders to make
loans for borrowers who do not have a “reasonable ability to repay” the
loan. Included in the legislation are two initiatives from Rep. Nydia
Velazquez to protect residents living in apartment buildings in New
York City and to provide prospective homebuyers with increased access
and information on the benefits of home inspections. TRD
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