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257.2 sec. 1 - Mortgage Lending and Homeownership (Spring 2013)

Instructor: Maeve Elise Brown  (view instructor's profile)
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Units: 2
Meeting Time: Tu 3:35-5:25PM
Meeting Location: 136

Course Start: January 08, 2013
Course Control Number (Non-1Ls): 49826

With the foreclosure crisis still in full swing, despite the multi-state Attorney General/ Department of Justice settlement with mortgage servicers, 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.We will also discuss how these issues relate 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.We will traverse from first-time homebuyer programs and land trust models intended to encourage homeownership amongst lower-income homebuyers, to prime and subprime lending, and the identity and role of key players in the mortgage industry (brokers, title companies, lenders, et cetera) in the process of the selling, buying and keeping of the largest asset most Americans will ever own.

Assignments: Two papers, 7-10 pages, covering a substantive issue raised in class. Readings-- about 25 pages per class.

Bio: Maeve Elise Brown is Executive Director and a founder of Housing and Economic Rights Advocates, a non-profit law office that focuses its work at this time on unfair and predatory mortgage lending, abusive mortgage servicing, other homeowner issues, as well as wrongful collections and credit problems. Ms. Brown has 24 years experience as a public interest attorney and is an appointee to the Consumer Financial Protection Bureau's Consumer Advisory Board.

Exam Notes: P+
Course Category: Social Justice and Public Interest
This course is cross-listed in the following categories:
General Courses
Law and Society
Public Law and Policy

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