Steered Wrong: Brokers, Borrowers, and Subprime Loans

MORTGAGE BROKER PRICING PRACTICES: Broker incentives cause borrowers with brokered subprime loans to pay more than their counterparts who dealt directly with lenders, according to a new study to be released by the nonprofit Center for Responsible Lending (CRL).

SPEAKERS: Keith Ernst, senior policy counsel, CRL; California Assemblyman Ted Lieu (D-53rd District); Pam Kennebrew, housing counselor, Philadelphia Unemployment Project.

DETAILS: You can participate in this conference call with full Q&A at 1:30 p.m. ET on April 8, 2008 by dialing 1-800-860-2442. Ask for the 'broker research' news event.

A streaming audio recording of the news event will be available on the Web as of 7 p.m. ET on April 8, 2008 at http://www.responsiblelending.org/.

CONTACT: Kathleen Day, +1-202-349-1871, kathleen.day@responsiblelending.org, or Ginna Green, +1-510-379-5513, ginna.green@responsiblelending.org, both of Center for Responsible Lending

Source: Center for Responsible Lending

Web Site: http://responsiblelending.org/