Calabasas, California (PRWEB) June 16, 2011
Philip Kramer from the Law Offices of Kramer and Kaslow comments on a current New York Instances post about new banking regulations. The New York Occasions reports that, As banking regulators are rewriting the rules for the mortgage market place, unusual alliances have sprung up in opposition to tighter lending requirements. Advocacy groups like the N.A.A.C.P. and the National Council of La Raza, a Latino civil rights organization, on the one hand, and the American Bankers Association on the other, are joining with each other to fight rules they say could make residence loans significantly less inexpensive for minority and working-class Americans.

Politics makes strange bedfellows, says noted attorney Philip A. Kramer of the surprising coalition of consumer advocates and the banking industry coming with each other to fight new, stricter loan regulations for mortgages.

According to The New York Instances article, the growing alliance in between civil-rights organizations and banking lobbyists could extend beyond the present round of monetary rule-making. If Congress turns its focus to restructuring Fannie Mae and Freddie Mac, for example, the identical groups could voice equivalent concerns over something that restricts the availability of credit for first-time home purchasers,

David Stevens, chief executive of the Mortgage Bankers Association, was quoted in the article. I consider everyone agrees that the enthusiasm for advertising house ownership went way too far, stated Stevens. But now the danger is that we go also far the other way. We still require to be capable to make affordable mortgages that dont just go to the wealthy, who can afford the biggest down payments and who have the most constructive credit ratings.

Philip A. Kramer, who represents hundreds of consolidated litigation plaintiffs suing banks for their mortgage practices, has a various take, The crisis occurred because banks have been able to profit enormously and this encouraged poor behavior. Purchasers had been sucked in since they wanted the American Dream to personal their personal property. It was a ideal storm of desire for a much better life and the pure greed of the profit motive. My belief is that regulatory brakes on each sides are definitely necessary to avoid a future disaster.

A lot more of Philip Kramers observations can be found at the Law Offices of Kramer and Kaslow weblog.

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior companion of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on company litigation, and genuine property matters. He has prosecuted and defended circumstances for more than twenty five years.

Mr. Kramer is a licensed genuine estate broker and has spent considerable time offering legal services in connection with genuine estate issues relating to loan modification and loss mitigation, land use and zoning, environmental troubles, easements, building and development, finance, and landlord tenant matters.

Mr. Kramer is admitted to practice ahead of all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has attempted in excess of 200 circumstances. He has appeared on nationally televised programs concerning pre-trial process and trial technique and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer frequently lectures on a broad spectrum of different legal and company issues.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization committed to bringing professionalism and civility back into the legal profession. He also serves on numerous Boards of Directors and serves as an officer in a lot of firms. For a lot more info contact (818) 224-3900 or go to http://kramer-kaslow.com

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