Client Alert
| August 9, 2010
An Analysis of the Mortgage Reform and Anti-Predatory Lending Act Provisions of Dodd-Frank
Title XIV of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank” or the "Bill") is The Mortgage Reform and Anti-Predatory Lending Act (“MRAPLA”), which was added to the legislation while it was being reviewed by the House of Representatives. As a result, this 200-plus page addition to the 11 page Truth in Lending Law was not subject to the same kind of scrutiny as the rest of Dodd-Frank and will certainly increase lender caution before making, selling and securitizing mortgage loans, which is not likely to help the moribund housing industry. Because of the impact that MRAPLA will likely have on both the banking and housing industry, this article will analyze its provisions.
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
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