Mortgage servicers must be held to strong standards by consumer agency
Consumer Action signed onto a letter asking the Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), Raj Date, to advance strong national mortgage servicing standards.

Regulators should balance fairness and safety in addressing rules for home loans
California community groups, with Consumer Action, sent a letter to regulators with specific recommendations to strengthen proposed Qualified Residential Mortgage (QRM) rules, including the sale of only safe products with fair pricing and abolishing the 20% down payment requirement for home loans.

5% risk retention for lender should not mean 20% down payment on mortgages for buyers
Consumer Action's Deputy Director of National Priorities Ruth Susswein sent a letter to the Federal Reserve Board asking for a modification to the Qualified Residential Mortgage (QRM) rule so that middle class families are able to afford a home.

Unemployed homeowners are left in the dust, while HUD waits
Consumer Action and its coalition partners send a strong letter to Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, urging him to quickly implement the Emergency Homeowner Loan Program.

Close call on loosening mortgage documentation standards
Consumer Action and others sent a letter to President Obama, thanking him for not signing H.R. 3808, the “Interstate Recognition of Notarization Act,” which would have now is not loosened protections against fraud in the foreclosure process, and asking for a national moratorium on foreclosures until regulators can be sure that mortgages services are complying with all related laws and obligations.

Support Elizabeth Warren for consumer watchdog job
Consumer, civil and human rights organizations wrote to President Obama on Aug. 9 to urge him to nominate Elizabeth Warren to serve as the first director of the Consumer Financial Protection Bureau (CFPB).

DOE should strengthen energy efficiency requirements to reduce costs, emissions
Consumer Action asked the Department of Energy to further strengthen energy-efficiency requirements for the largest water heaters, reducing both heating costs for consumers and global warming emissions.

Foreclosure crisis can be stopped with bold, aggressive action
Consumer Action joined members of Americans for Financial Reform in a letter demanding more solutions - including revamping HAMP, addressing unemployed homeowners, and offering a "right to rent" - to stop the foreclosure crisis.

Improving HAMP will stem foreclosures
In a letter to Tina Tchen, White House Director of Office of Public Engagement, Consumer Action and other groups laid out steps to improve the Home Affordable Modification Program (HAMP).

Financial reform coalition tackles big issues
A new financial reform coalition, Americans for Financial Reform, has been launched. Consumer Action is a part of this coalition.

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