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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jimsioi who wrote (26725)	1/27/2003 9:18:38 AM
From: ItsAllCyclical	Respond to of 36161

Interesting development to watch in the housing market finance.canada.com Georgia, which last fall passed legislation to protect borrowers from unscrupulous mortgage lenders, is finding out about the law of unintended consequences. The measure not only threatens to shut off the flow of home loans in the state but also has roiled the US$4.6-trillion mortgage-backed securities market. The Georgia Fair Lending Act, or GFLA, enacted on Oct. 1, was intended to protect borrowers from "predatory" lending -- exploiting unsophisticated consumers by charging inflated fees, prepayment penalties and other charges. .... more follows