Navigation
User login
Search
Join our mailing list
The PHNDC Bulletin publishes information relating to neighborhood advocacy in Prospect Heights. Click here to subscribe by email.
The Prospect Heights Neighborhood Development Council
Sub-Prime Lending Practices in New York
Start Date:
July 9, 2007 - 10:00am - 3:00pm
Sponsored By:
State Senate Democratic Conference
Location:
Bedford Stuyvesant Restoration Corporation
1368 Fulton Street Multi-purpose Room, First Floor (between Brooklyn and New York Avenues)
United States
Description:
This hearing on sub-prime lending is being held by the State Senate Democratic Conference, whose members include State Senator Velmanette Montgomery.
The goals of this hearing are as follows:
- Develop definitions for a sub-prime home loan, a "rate spread mortgage."
- Examine the practice of "loan flipping."
- Develop protections for consumers of sub-prime home loans.
- Discuss potential civil and criminal penalties.
- Discuss disclosure requirements and resources.
Persons wishing to present testimony should contact Susan Leung of State Senator Velmanette Montgomery's office at (718) 643-6140.
Open to:
General public (registration required to testify)
