Improved mortgage disclosure to consumers is an important goal everyone can agree on--especially in the wake of the subprime mortgage bust, in which many defaulting borrowers appear not to have understood the obligations they were undertaking. A good mortgage finance system requires that borrowers understand how the loan will work,...

Media inquiries: Veronique Rodman202.862.4870 (vrodman@aei.org)

FOR IMMEDIATE RELEASE: June 13, 2007

More and more Americans are defaulting on their mortgages, and foreclosures rates are skyrocketing because of risky subprime loans. It appears that many troubled subprime borrowers had not understood the obligations they were undertaking. Yet,...

Unless politicians from both sides get their acts together, the recent voting conflict in the U.S. House of Representatives is bad news for the nation.