"Focus: Banking & Finance" piece with commentary by Hannah Thomas, research asso

Hannah Thomas

Source

Mainebiz

Date

4-3-2006

Pages

36-37

Abstract

"Focus: Banking & Finance" piece with commentary by Hannah Thomas, research associate at Coastal Enterprises Inc. (CEI) in Wiscasset. CEI's February report on predatory mortgage lending shows that predatory lenders are active in Maine and that state law is not protecting Mainers from these lenders. Thomas urges improvements in the law, and the Office of Consumer Credit Regulation will make recommendations to the Legislature next session. Predatory lending takes place in the subprime mortgage market, which is supposed to serve borrowers who do not qualify for prime mortgages because of credit problems or a limited credit history. With details on subprime mortgages in Maine, and the main predatory practices seen in the state.

Subjects

Finance, Coastal Enterprises, Inc Wiscasset

Full text is not available here. Please contact the Library for a copy of the article.

Share

COinS