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257.2 sec. 1 - Mortgage Lending and Homeownership (Spring 2012)

Instructor: Maeve Elise Brown  (view instructor's profile)
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Units: 2
Meeting Time: Th 3:35-5:25
Meeting Location: 12

Course Start: January 12, 2012
Course Control Number (Non-1Ls): 51200

With the foreclosure crisis still in full swing (just half-way through by most estimates), and with a wealth of information available on the causes of the crisis and the devastation it has left in its wake, the time is right for a course on mortgage lending and homeownership in the United States. The course will cover federal and state housing policies pertaining to homeownership, discrimination and disparities in access to homeownership, predatory lending, key federal and state laws pertaining to mortgage lending and redress for lending and servicing abuses, as well as the relationship of these elements to asset building for low and moderate income people in the country. Incorporating data and analyses of the demographics of homeownership and high-cost lending, this course will take students from stem to stern through the practicalities and legal requirements that entangle homebuyers and homeowners alike, from first-time homebuyer programs and land trust models intended to encourage homeownership amongst lower-income homebuyers, to prime and subprime lending and federally guaranteed lending programs, and the identity and role of key players in the mortgage industry, including lenders, brokers, escrow officers/title companies, mortgage and title insurers, as well as notaries in the process of acquiring the largest asset most Americans will ever own.

Assignments in addition to readings? On this swiftly tilting planet, there are new developments manifesting with some frequency on the regulatory and caselaw fronts that may lend themselves to interesting and valuable research papers. In addition, the course will use pleadings and/or legal brief drafting as assignments in order to combine a scholarly understanding of the law with its practical application to one or more cases. Expect to have three substantive assignments over the course of the semester that result in 20-30 pages worth of written work.

No prerequisites.

Exam Notes: P
Course Category: Social Justice and Public Interest
This course is cross-listed in the following categories:
Business Law

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