Senator Dodd and other leaders in the Senate have introduced the "Mortgage Reform and Anti-Predatory Lending Act of 2007" (S. 2452).  The proposed legislation would go far in protecting families from abusive subprime mortgages.

Dear [ Decision Maker ] ,

I am writing to urge you to be a leader in preventing another subprime debacle from ever happening again. We urgently need protections that will return lenders to common-sense lending standards and help restore business incentives to make home loans that are sustainable. Recently Senator Dodd introduced a bill that will accomplish these goals: the "Homeownership Preservation and Protection Act of 2007."

This proposed legislation accomplishes several key goals, including these:

*Gives lenders and investors a greater stake in the quality of home loans they approve;

*Establishes lending standards that responsible lenders already use to ensure that loans are affordable and fair;

*Provides for effective enforcement so that new protections will be meaningful;

*Uses state-tested standards with a proven track record for preventing predatory lending while ensuring wide availability of mortgage loans.

In summary, the bill would allow consumers to have greater confidence that subprime lenders will refrain from reckless lending and assess whether complex loan products are truly affordable for the families that receive them.

I urge you to co-sponsor this important bill, if you haven't already. In addition, I urge you to oppose any attempts by special interests to weaken the bill.

Senator Dodd's proposal includes common sense protections that responsible mortgage lenders have always used. Please make a decision to combat predatory lending and boost our nation's economy by promoting sustainable homeownership.

Sincerely,

Campaign Launched:
December 18, 2007