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The Community Reinvestment Act: Guilty, But Not As Charged, Raymond H. Brescia

St. John's Law Review

(Excerpt)

With the goals of assessing the state of the research on the CRA and drawing some insights into what reforms this research suggests, this Article proceeds as follows. Part I provides an overview of the CRA's structure and reach. Part II provides an overview of the impact of the financial crisis on low- and moderate-income communities, particularly communities of color. Part III assesses the current state of the research, with particular emphasis on the NBER report described above. Part IV identifies the disconnect between the CRA's reach and its goals given the current state of banking and makes suggestions …

Construction Mortgage Financing In Ohio, Malcom B. Ramey, Robert A. Jefferies Jr.

Akron Law Review

This article consists of a review and analysis of the Yarborough decision and the open-end mortgage statute and an assessment of their probable impact upon current construction loan lending procedures. In addition, the authors offer various observations regarding the form in which disbursing agreements and construction mortgage deeds should be drafted. The structure of the article may be briefly described as follows: First, attention will be given to the three methods by which a mortgagee can preserve the priority of its mortgage lien over liens of mechanics men which attach to the mortgaged premises after the recording of the mortgage …

Ohio's Usury Laws And Their Effect Upon The Home Mortgage Market: Economic And Constitutional Inequities, David M. Hunter

Akron Law Review

The concept of usury regulation is a well settled principle in the law, founded primarily upon the misguided perception of interest limitations as efficient and necessary legislation promoting the popular notion of consumer protection by cautiously supervising credit markets. Endowed with a lengthy history, limitations precluding the usurious assessment of interest charges have acquired a time-honored, almost sacred position in the statutory scheme of Ohio, as well as other states. This favored outlook toward usury laws is further bolstered by its ill-founded appeal as legislation in the best interests of the borrower. As a result, usury restrictions are often seen …

Ohio Usury Laws And The Real Estate Mortgage Lending Market - A Savings Association Viewpoint, Roger A. Yurchuck, James M. Ball

Akron Law Review

Although the concept of usury was unknown at common law, it is of ancient statutory origin. Irrespective of its economic utility to society, usury has become firmly entrenched as an accepted fact of economic life. The concept of usury is easily understandable and lends itself to simple definition. It is, in essence, a prohibition against the taking of an amount for the use of money which is greater than that permitted by law. While the concept itself is simple to grasp, methods of implementing that concept have varied widely from jurisdiction to jurisdiction. Moreover, within many jurisdictions, including Ohio, legislative …

Survey Of The Rights Of Receiverships To Sell Real Property, Baruch Kreiman

The Journal of Business, Entrepreneurship & the Law

The focus of this article is on the abilities of the receiver and the restrictions put on him regarding his management of the property-- specifically, whether the receiver has the ability to sell the land free and clear of all liens, and, if so, under what circumstances and by what method. Part II gives an overview of the article, discusses the structures of receivership statutes in various jurisdictions, and further discusses receivership sales. Part III analyzes the statutory frameworks and caselaw from a selection of jurisdictions with regards to their treatment of receiverships and focuses on sales made by the …

Litigating Consumer Protection Acts In The Hamp Context, Amanda Martin

Seattle University Law Review

The foreclosure crisis has lingered despite the improving economy. To alleviate this crisis, the U.S. government implemented the Home Affordable Mortgage Program (HAMP), a Treasury-sponsored initiative that aims to prevent foreclosure by encouraging mortgage loan servicers to modify the mortgages of qualified homeowners. The Treasury Department has extended HAMP multiple times—from its original ending date in 2013 to its present ending date in 2016. While HAMP has indeed helped homeowners avoid foreclosure, the program has spawned an array of litigation as servicer misconduct runs rampant. As the Ninth Circuit recently noted, “the [HAMP] program seems to have created more litigation …

Hooks V. Forman, Holt, Eliades & Ravin, Llc, Jennifer A. Gong

NYLS Law Review

No abstract provided.