Held up in Due Course: Predatory Lending, Securitization, and the Holder in Due Course Doctrine
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Authors
Eggert, Kurt
Issue Date
2002
Volume
35
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
INTRODUCTION|Predatory lending is a scourge of the modern American financial system. A recent analysis of this problem estimated that it costs U.S. borrowers $9.1 billion annually, even excluding what may be the greatest damage caused, residential foreclosures. Worse yet, mortgage fraud and unscrupulous lending appears to be increasing. Predatory lending is the process of engaging in unfair and deceptive lending practices and sales techniques that rely on misrepresentation, threats, unfair pressure, and borrower ignorance. The goal of predatory lending is to coerce or trick homeowners into obtaining loans with interest rates or fees higher than the borrowers' credit profiles and the market would justify or loans larger than or different from what the borrowers need, want or can afford...
Description
Citation
35 Creighton L. Rev. 503 (2001-2002)
Publisher
Creighton University School of Law