Predatory lending represents a frontal assault on homeowners all across America.
Through consumer education, Freddie Mac is providing borrowers with a renewed sense of hope and opportunity for the American dream of homeownership. Freddie Mac is committed to being an industry leader in the fight against predatory lending practices. These steps include a ban on the purchase of mortgages with single-premium credit insurance policies and requiring subprime lenders to accurately and fully report borrower credit files to credit repositories, as well as the introduction of innovative loan products for borrowers with credit issues. As Mayor, I want to protect Boston's homeowners from those predators who would rob them of the equity and security of their homes. This awareness campaign, along with Freddie Mac's other efforts, will help mayors across the country to prevent the foreclosures and abandonment that follow these predators.