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Article
Rethinking Disclosure in a World of Risk-Based Pricing
Harvard Journal of Legislation (2007)
Abstract

The residential mortgage market in the United States has changed significantly since the passage of current federal mortgage disclosure laws in the 1960s and 1970s. In this Article, Professor Patricia McCoy advocates for the reform of these traditional disclosure rules. After describing the evolution of the subprime mortgage market and providing a description of current federal disclosure laws, she explores how these new market dynamics cause the traditional disclosure rules to break down in the subprime market. Professor McCoy concludes with proposals to counteract false advertising practices, facilitate "meaningful comparison-shopping, and formulate streamlined disclosures addressing loan applicants' greatest concerns in the subprime market.

Keywords
  • subprime,
  • predatory lending,
  • risk-based pricing,
  • disclosures,
  • Truth in Lending Act
Publication Date
Winter 2007
Citation Information
"Rethinking Disclosure in a World of Risk-Based Pricing" Harvard Journal of Legislation Vol. 44 Iss. 1 (2007) p. 123 - 166
Available at: http://works.bepress.com/patricia_mccoy1/9/