Posted on Mon, Jun. 29, 2009
Gov. Rendell today signed two bills designed to protect consumers from mortgage fraud.
One bill, sponsored by State Rep. David Kessler (D., Berks) protects mortgage company employees who report illegal activities or take part in an investigation, hearing or inquiry from retribution by employers.
The other, sponsored by State Sen. Mike Brubaker (R., Lancaster) prevents mortgage brokers from withholding information about interest rates, fees or monthly payments, and guarantees that consumers are informed of mortgage terms.
Rendell said the bills, which will become law in 60 days, "represent a critical step forward in our strategy to combat mortgage lending fraud and abuse." - Alan J. Heavens
PHILLY.COM INDICES WATCH
MOST POPULAR PHILLY.COM PHOTOS
Philly.com Promotions
