Real Estate Forums

SEOWolf · 02-29-2008, 03:24 PM

Agents Beware

I normally post any political threads at the bottom of the forum under the Topic of “Miscellaneous”.

This is an exception.

I noted my wife’s absence for several hours last night. She usually comes into my office and checks on me. When it occurred to me she had not done so for some time I went and checked on her. She was doing research for her real estate blog. That is not unusual but she was DEEP into this topic so naturally I had to investigate.

She was reading up on Barack Obama. Now I found that VERY unusual. Rhonda is NOT political at all and is a die hard Republican. So I had to ask what she was doing.

It seems that Barack Obama has come up with some drastic plans for the sub-prime lending crisis. Now the fact that a Democrat is planning to regulate anything to do with any industry is scary enough but it does not stop there.

According to Rhonda, Mr. Obama is planning to submit legislation (his STOP FRAUD act) that could potentially hand down prison terms and healthy fines to any REALTOR® that is deemed to have oversold to a buyer. His plan states “shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.”

We can only pray that this is someone’s sick sense of humor since Barack Obama could well be our next President. Now I don’t know all of the details and Rhonda still has not finished her research. As soon as I have more information I will post it here.

~Mack

Jared · 02-29-2008, 03:28 PM

It will get votes if nothing else. I don't chase the political arena anymore because the entire arena is full of criminals. Tragic is all I can say.

SEOWolf · 02-29-2008, 03:35 PM

If this is enacted it will adversely affect the real estate industry in many ways Jared.

Mortgages will become even more difficult (if not practically impossible) to obtain.

~Mack

P.S.

And I will go back to being a Listing Agent for sure.

NealRM · 02-29-2008, 04:03 PM

I would be interested in seeing how "Oversold" is defined. By definition, an object is only worth what someone is willing to pay for it. Nor can I see how the agent can be held accountable, last time I checked the seller set the price.

Jim B · 02-29-2008, 05:18 PM

Barack Obama is a great political speech giver, and it is unfortunate that the American electorate is so dumb. I have voted in every presidential election since 1988 and have voted Democratic each time, as economically negligent and intellectually outdated preaching that the Republican Party frequently engages in makes me ill.

My point is that Barack Obama's rhetoric makes me ill in the same way the Rush Limbaugh, Newt Gingrich, & George Bush II do. Just something about ill advised ideas which have been twisted to make them acceptable to the uneducated public, that makes my stomach turn.

This may well be the first year I vote Republican.

Jared · 02-29-2008, 05:27 PM

The entire situation could make Realtors criminals with lose interpretations of the law.

But in all honesty, people, do you really believe this guy will do that? The STOP FRAUD ACT? I'd place a wager that this will end up being little more than vote bait. People do similar nonsense for link bait and it achieves its intended purpose, to get traffic.

I'm truly amazed that the Hillary Clinton Camp doesn't pick up on this.

~ Jared

SEOWolf · 02-29-2008, 09:53 PM

Well I am anxiously awaiting Rhonda’s blog post on this bill that Sen. Barack Obama has named the “STOP FRAUD Act”. Rhonda did let be know that I misquoted her at the beginning of this thread. Barack Obama’s proposed legislation states;

Quote:

(1) CRIMINAL PENALTIES- Any mortgage professional who violates subsection (a) shall be fined not more than $5,000,000, or imprisoned not more than 35 years, or both.
(2) CIVIL PENALTIES- Any mortgage professional who violates subsection (a) shall be liable for an amount equal to the sum of all finance charges and fees paid or payable by the natural person, financial institution, or purchaser who was defrauded unless the mortgage professional demonstrates that such violation is not material.

Unfortunately Sen. Obama “STOP FRAUD Act” ties in real estate brokers and other real estate professionals in several areas of the Bill with excepts such as;

Quote:

(e) Definition- As used in this section, the term `mortgage professional' includes real estate appraisers, real estate accountants, real estate attorneys, real estate brokers, mortgage brokers, mortgage underwriters, mortgage processors, mortgage settlement companies, mortgage title companies, mortgage loan originators, and any other provider of professional services engaged in the mortgage process.'

As you can see, this is NOT limited to the Mortgage Industry.

Sen. Barack Obama’s Bill Would Cause a Litigation Tsunami

Among the obvious problems this will cause if passed is severe mortgage tightening and a tsunami of lawsuits filed by irresponsible home buyers that will occur if in the fact possible offenses of a transaction have been broadened to include the term “fraud”.

Additionally if Barack Obama pushes the “STOP FRAUD Act” through the statute of limitations is going to be substantially extended in most states for these offenses if you are charged or sued for fraud. In Missouri the statute of limitations on filing a case for fraud is 10 years. In some cases this can extend to 15 years.

Now the IRS requires that we keep records for three years. Missouri licensing law requires that we keep records on transactions for 5 years. Thanks to Sen. Barack Obama if this law is passed you may want to keep your records for 15 years in the even you have to mount a defense. And keep in mind that most E&O Policies will not cover “Fraud”.

~Mack

San Diego Real Estate · 03-01-2008, 05:52 AM

Mack I couldn't agree more...

The Industry needs stricter policing no doubt and we have to start somewhere but this could have a major impact once the lawsuits start flying. We think the industry is full of legal issues now. If this passes and it appears to be gaining real support this time watch out.

Here is what I'm seeing is behind this All told, the STOP FRAUD Act authorizes Sixty-five Million dollars ($65,000,000) to combat mortgage fraud, and while anyone who knows me would tell that I’d be the first to go on record as saying that $65 million isn’t nearly enough (especially when you consider that just fifteen percent [15%] of that money is going towards education.

In plain English… if you commit mortgage fraud, you’ll face 35-years in prison and/or a $5,000,000 fine!

And in case you’re wondering, the STOP FRAUD Act defines “mortgage professionals” as:

- Real estate appraisers
- Real estate accountants
- Real estate attorneys
- Real estate brokers
- Mortgage brokers
- Mortgage underwriters
- Mortgage processors
- Mortgage settlement companies
- Mortgage title companies
- Mortgage loan originators
- Any other providers of professional services engaged in the mortgage process

Stay tuned for more on information on Bill S. 2280 [109th]: STOP FRAUD Act as it appears the water is starting to rise around our country!

teamaguilar · 03-01-2008, 07:37 AM

way too drastic

SEOWolf · 03-02-2008, 11:02 AM

Al the Bill you cited was replaced with Bill S. 1222: (110th Congress) STOP FRAUD Act introduced by Sen. Barack Obama [D-IL] and cosponsored by Sen. Richard Durbin [D-IL] on Apr 25, 2007.

So this is Sen. Barack Obama's second attempt to pass this legislation. I am amazed that this hasn’t been covered more by the main stream media given the impact it would have on the real estate industry.

I honestly was not aware of either Bill and I am a news junkie. If I had known about this during the Missouri Primary I would have had a Hillary Clinton sign in my yard. I am not joking.

Stop Fraud Act - Bill S 1222:

Quote:

S 1222 IS

110th CONGRESS

1st Session

S. 1222
To stop mortgage transactions which operate to promote fraud, risk, abuse, and under-development, and for other purposes.

IN THE SENATE OF THE UNITED STATES

April 25, 2007

Mr. OBAMA (for himself and Mr. DURBIN) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

--------------------------------------------------------------------------------

A BILL
To stop mortgage transactions which operate to promote fraud, risk, abuse, and under-development, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title- This Act may be cited as the `Stopping Mortgage Transactions which Operate to Promote Fraud, Risk, Abuse, and Underdevelopment Act' or the `STOP FRAUD Act'.

(b) Table of Contents- The table of contents for this Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. Mortgage fraud.

Sec. 3. Mandatory reporting requirements.

Sec. 4. Law enforcement and industry communication.

Sec. 5. Debarred or censured mortgage professional database.

Sec. 6. Housing counseling.

Sec. 7. State appraisal demonstration projects.

Sec. 8. Law enforcement grants to State and local law enforcement agencies.

Sec. 9. Additional DOJ funding.

Sec. 10. Additional rights of borrowers.

Sec. 11. Report to Congress.

SEC. 2. MORTGAGE FRAUD.

(a) In General- Chapter 63 of title 18, United States Code, is amended by adding at the end the following:

`Sec. 1351. Mortgage fraud
`(a) In General- It shall be unlawful for any mortgage professional to knowingly execute, or attempt to execute, a scheme or artifice--

`(1) to defraud any natural person, financial institution, or purchaser of consumer credit or an interest in consumer credit in connection with the offer or extension of consumer credit (as such term is defined in subsections (e) and (h) under section 103 of the Truth in Lending Act (15 U.S.C. 1602(e) and (h))), which credit is, is to be, or is portrayed as being secured by an interest--

`(A) in real property; or

`(B) in personal property used or expected to be used as the principal dwelling (as such term is defined under section 103(v) of the Truth in Lending Act (15 U.S.C. 1602(v))) of the natural person to whom such consumer credit is offered or extended; or

`(2) to obtain, by means of false or fraudulent pretenses, representations, or promises, any money or property, including without limitation in the form of fees or charges, from a natural person in connection with an extension of consumer credit which is, is to be, or is portrayed as being secured by an interest--

`(A) in real property; or

`(B) in personal property used or expected to be used as the principal dwelling of such natural person;

`(b) Penalties-

`(1) CRIMINAL PENALTIES- Any mortgage professional who violates subsection (a) shall be fined not more than $5,000,000, or imprisoned not more than 35 years, or both.

`(2) CIVIL PENALTIES- Any mortgage professional who violates subsection (a) shall be liable for an amount equal to the sum of all finance charges and fees paid or payable by the natural person, financial institution, or purchaser who was defrauded unless the mortgage professional demonstrates that such violation is not material.

`(c) Private Right of Action by Persons Aggrieved-

`(1) IN GENERAL- Any person aggrieved by a violation of this section, or any regulation under this section may, but shall not be required to, file suit in any district court of the United States or any State court having jurisdiction of the parties to such suit--

`(A) without respect to the amount in controversy;

`(B) without regard to the citizenship of the parties; and

`(C) without regard to exhaustion of any administrative remedies.

`(2) REMEDIES- Any court in which a civil action has been brought under paragraph (1) may--

`(A) award damages and appropriate declaratory and injunctive relief for each violation of this section; and

`(B) provide such additional relief as the court deems appropriate, including the award of court costs, investigative costs, and reasonable attorneys' fees incurred by persons aggrieved.

`(d) Rule of Construction- Nothing in this section shall be construed to modify, lessen, or otherwise affect any other provision of this title relating to the rights afforded to financial institutions or purchasers of consumer credit or interests in consumer credit.

`(e) Definition- As used in this section, the term `mortgage professional' includes real estate appraisers, real estate accountants, real estate attorneys, real estate brokers, mortgage brokers, mortgage underwriters, mortgage processors, mortgage settlement companies, mortgage title companies, mortgage loan originators, and any other provider of professional services engaged in the mortgage process.'.

(b) Table of Sections- The table of sections for chapter 63 of title 18, United States Code, is amended by inserting after the item relating to section 1350 the following:

`1351. Mortgage fraud.'.

(c) Conforming Amendment- Section 3293(2) of title 18, United States Code, is amended by striking `or 1343' and inserting `, 1343, or 1351'.

SEC. 3. MANDATORY REPORTING REQUIREMENTS.

(a) Definition of Financial Institution- Section 5312(a)(2)(U) of title 31, United States Code, is amended by--

(1) inserting `companies and other legal entities' after `persons';

(2) inserting `, transactions,' after `closings'; and

(3) inserting after `settlements' the following: `, including the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, mortgage appraisers, real estate accountants, real estate attorneys, real estate brokers, mortgage underwriters, mortgage processors, mortgage settlement and title companies, mortgage brokers, mortgage loan originators, and any other mortgage professional engaged in the mortgage industry'.

(b) Regulations-

(1) IN GENERAL- Not later than 1 year after the date of enactment of this Act, the Secretary of the Treasury shall issue regulations to implement the amendments made in subsection (a).

(2) CONTENT OF REGULATION- A regulation required under paragraph (1) shall--

(A) include a requirement that any suspicious activity by an individual or entity described in section 5312(a)(2)(U) of title 31, United States Code, be reported to the Secretary of the Treasury; and

(B) ensure compliance by an individual or entity described in such section with the requirement described under subparagraph (A), while simultaneously seeking to avoid any unnecessary duplication of paperwork or other administrative details.

(c) Authorization of Appropriations- There are authorized to be appropriated such sums as are necessary to implement the regulations issued under subsection (b).

SEC. 4. LAW ENFORCEMENT AND INDUSTRY COMMUNICATION.

(a) In General- Not later than 18 months after the date of enactment of this Act, the Attorney General, in consultation with the Secretary of the Treasury, shall establish a system by which mortgage brokers, lenders, title company employees, mortgage appraisers, securities and bond rating agencies, and other authorized mortgage professionals may register and receive updates from Federal law enforcement agencies on--

(1) suspicious activity trends in the mortgage industry; and

(2) mortgage fraud-related convictions.

(b) Authorization of Appropriations- There are authorized to be appropriated such sums as are necessary to establish and maintain the system required under subsection (a).

SEC. 5. DEBARRED OR CENSURED MORTGAGE PROFESSIONAL DATABASE.

(a) Establishment-

(1) IN GENERAL- Not later than 18 months after the date of enactment of this Act, the Attorney General shall establish a Debarred or Censured Mortgage Professional Database that may be accessed by authorized depository institutions, mortgage lenders, mortgage professionals, securities and bond rating agencies, and consumers to determine the Federal and State bar status of mortgage professionals regulated by any Federal or State agency.

(2) PRIVATE CERTIFICATION BOARDS- Any widely accepted private certification board shall have authority to access, maintain, and update the Debarred or Censured Mortgage Professional Database established in paragraph (1) for purposes of adding or removing the information of any mortgage professional contained in such Database.

(3) WIDELY ACCEPTED PRIVATE CERTIFICATION BOARD- Not later than 18 months after the date of enactment of this Act, the Attorney General, in consultation with the Secretary of the Treasury, shall--

(A) determine the definition of the term `widely accepted private certification board'; and

(B) issue procedures and guidance on how officers, agents, and employees of such boards shall conduct the responsibilities described in paragraph (2).

(4) PUBLIC AVAILABILITY- The Attorney General shall make the Debarred or Censured Mortgage Professional Database established in paragraph (1) available to the public on the Internet, without fee or other access charge, in a searchable, sortable, and downloadable manner.

(b) Immunity From Civil Liability- Any officer, agent, or employee of a widely accepted private certification board, who in good faith follows the procedures and guidance set forth under subsection (a)(3)(B), shall not be liable in any court of any State or the United States to any mortgage professional or other person--

(1) for carrying out the responsibilities described in subsection (a)(2); or

(2) for nondisclosure to that mortgage professional or other person that such conduct occurred.

(c) Whistleblower Protection-

(1) IN GENERAL- No officer, agent, or employee of a widely accepted private certification board may be discharged, demoted, threatened, suspended, harassed, or in any other manner discriminated against in the terms and conditions of the employment of such officer, agent, or employee because of any lawful act done by such officer, agent, or employee to provide information, cause information to be provided, or otherwise assist in an investigation regarding any--

(A) possible violation of this section, including not following the procedures and guidance set forth under subsection (a)(3)(B); or

(B) other misconduct, by any other officer, agent, or employee of the board.

(2) CIVIL ACTION- An officer, agent, or employee injured by a violation of paragraph (1) may, in a civil action, obtain appropriate relief.

(d) Authorization of Appropriations- There are authorized to be appropriated such sums as are necessary to establish and maintain the database required under subsection (a).

SEC. 6. HOUSING COUNSELING.

Section 106 of the Housing and Urban Development Act of 1968 (12 U.S.C. 1701x), is amended by adding at the end the following:

`(g) Counseling for Mortgage Fraud-

`(1) IN GENERAL- The Secretary is authorized to provide, or contract with public or private organizations to provide, information, advice, counseling, and technical assistance to tenants, homeowners, and other consumers with respect--

`(A) to mortgage fraud, as such activity is described in section 1351 of title 18, United States Code; and

`(B) to any other activities or practices that the Secretary determines are likely to increase the risk of foreclosure by such individuals.

`(2) PREFERENCES- In distributing any funds authorized under paragraph (5), the Secretary shall give preference to--

`(A) organizations in those States with the highest rates of mortgage fraud, as such rates are determined by--

`(i) the Director of the Federal Bureau of Investigation; and

`(ii) mortgage industry statistics;

`(B) those nonprofit organizations--

`(i) approved by the Secretary under subsection (d); and

`(ii) that--

`(I) are experienced in the provision of prepurchase and foreclosure-prevention counseling; and

`(II) have a demonstrated record of success in the provision of such counseling services; and

`(C) organizations that provide--

`(i) in-person prepurchase and foreclosure-prevention counseling; and

`(ii) a brief assessment and review of the financial mortgage documents of a tenant, homeowner, or other consumer.

`(3) DUTIES OF THE SECRETARY- The Secretary shall--

`(A) monitor, record, track, and evaluate the performance of each public or private organization that is a recipient of a grant under subsection (a); and

`(B) make each evaluation under subparagraph (A) available to the public on the Internet, without fee or other access charge, in a searchable, sortable, and downloadable manner.

`(4) REPORT-

`(A) IN GENERAL- Each public or private organization that is a recipient of a grant under subsection (a) shall report to the Secretary, on a quarterly basis, on any instances or occurrences of fraud or deceptive practices by mortgage professionals uncovered in the course of providing the prepurchase and foreclosure-prevention counseling required under this section.

`(B) USE BY THE SECRETARY- Based upon the reports submitted under subparagraph (A), the Secretary shall--

`(i) identify and evaluate trends in the use and frequency of fraud or deceptive practices in the mortgage industry;

`(ii) identify new fraudulent schemes or deceptive practices, and forward to the appropriate Federal law enforcement agency information relating to such new schemes and practices; and

`(iii) establish, as needed, new requirements to train officers, agents, or employees of any public or private organization that is a recipient of a grant under subsection (a) to identify such schemes and practices, including by providing educational material to such officers, agents, or employees on such schemes and practices.

`(5) AUTHORIZATION OF APPROPRIATIONS- There are authorized to be appropriated $25,000,000, to implement the provisions of this subsection.'.

SEC. 7. STATE APPRAISAL DEMONSTRATION PROJECTS.

(a) In General- Not later than 18 months after the date of enactment of this Act, the Secretary of Housing and Urban Development shall provide grants to State appraisal agencies to improve the monitoring and enforcement of housing appraisal regulations in that State.

(b) Application- Each State appraisal agency seeking a grant under this section shall submit an application to the Secretary of Housing and Urban Development at such time, in such manner, and containing such information as the Secretary may require.

(c) Preference for States With Higher Incidents of Mortgage Fraud- In distributing any grant amounts authorized under this section, the Secretary of Housing and Urban Development shall give preference to those States with the highest rates of mortgage fraud, as such rates are determined by--

(1) the Director of the Federal Bureau of Investigation; and

(2) mortgage industry statistics.

(d) Authorization of Appropriations- There are authorized to be appropriated $10,000,000, to implement the provisions of this section.

SEC. 8. LAW ENFORCEMENT GRANTS TO STATE AND LOCAL LAW ENFORCEMENT AGENCIES.

(a) In General- Not later than 18 months after the date of enactment of this Act, the Attorney General shall provide grants to assist State and local law enforcement agencies in--

(1) establishing and improving mortgage fraud task forces; and

(2) improving communications regarding mortgage fraud cases between such agencies and other Federal, State and local law enforcement agencies.

(b) Application- Each State or local law enforcement agency seeking a grant under this section shall submit an application to the Attorney General at such time, in such manner, and containing such information as the Attorney General may require.

(c) Authorization of Appropriations- There are authorized to be appropriated $40,000,000, to implement the provisions of this section.

SEC. 9. ADDITIONAL DOJ FUNDING.

In addition to any other amounts otherwise authorized to be appropriated under this Act, there are authorized to be appropriated to the Attorney General $5,000,000, to increase mortgage fraud investigation efforts undertaken by the Department of Justice.

SEC. 10. ADDITIONAL RIGHTS OF BORROWERS.

(a) Borrowers Rights in Foreclosure Proceedings-

(1) IN GENERAL- Any creditor making a subprime mortgage related loan who has the legal right to foreclosure shall use the judicial foreclosure procedures, or if no such judicial proceeding exists the appropriate administrative proceeding, of the State where the property securing the loan is located if--

(A) the creditor is a party to a home loan contract described in paragraph (3); and

(B) the property to be secured is the principal residence (as determined by the Secretary of Housing and Urban Development) of the borrower.

(2) AFFIRMATIVE DEFENSE- In any foreclosure proceeding described in paragraph (1), the borrower may assert as an affirmative defense against any party to such contract, or any successor or assignee of such party--

(A) that such contract was the result of fraud or deceptive practices and as result of such fraud and deception that the terms of such contract are void; and

(B) any other claim or defense to acceleration and foreclosure, including any claim or defense based on a violation of this Act, though no such claim or defense shall be deemed a compulsory counterclaim.

(3) HOME LOAN CONTRACT- A home loan contract described in paragraph (1) is a contract that--

(A) does not include a fully-disclosed statement by the lender that the lending institution or the authorized representative or agent of such institution has evaluated and affirmed the ability of the individual to repay the loan based upon, at minimum, the maximum monthly payments that could be due during the first 7 years of the loan term, which shall be calculated with reference to the maximum interest rate allowable under the loan being offered based on a fully amortizing repayment schedule, taking into account negative amortization and escrows for taxes and insurance;

(B) does not contain a statement, the format of which shall be determined by the Secretary of Housing and Urban Development, with a plain language summary providing the borrower with a calculation of--

(i) the maximum monthly required minimum payment the borrower could face under the terms of the loan for each of the first 10 years of the loan in order to keep the loan in good standing, or if the borrower is receiving more than 1 loan, the same information for each loan separately and for the total of all of the loans together; and

(ii) how much it would cost the borrower to pay off the loan at the end of each of the first 10 years if the borrower makes the minimum required payments to keep the loan in good standing;

(C) was underwritten based only on the stated income of the individual, without third-party verification of all sources of income and assets of the individual, including by an examination of the individual's tax returns, payroll receipts, bank records, or other reliable documentation; or

(D) includes loan prepayment penalties that are applicable for prepayments made beyond 2 years after the loan origination date, beyond the initial interest rate adjustment period stated in such contract, or whichever is less.

(b) Coordination With Other Law- No provision of this section shall be construed as annulling, altering, affecting, or superseding any Federal law, or the laws of any State, relating to foreclosure proceedings in connection with home loans, except to the extent that those laws are inconsistent with the provisions of this section, and then only to the extent of the inconsistency.

(c) Applicability- This section shall apply to all home loan contracts entered into on, or after the date that is 90 days after the date of the enactment of this Act and to all controversies arising after such date.

(d) Definitions- As used in this section:

(1) HOME LOAN- The term `home loan' means a loan secured by a mortgage or lien on residential property.

(2) RESIDENTIAL PROPERTY- The term `residential property' means a 1-4 family, owner-occupied residence, including a 1-family unit in a condominium project, a membership interest and occupancy agreement in a cooperative housing project, and a manufactured home and the lot on which the home is situated.

(3) SUBPRIME MORTGAGE RELATED LOAN-

(A) IN GENERAL- The term `subprime mortgage related loan' means with respect to a home loan, that the borrower under the loan, or the loan terms, exhibit characteristics that indicate that the loan is subject to a significantly higher risk of default than federally related mortgage loans made to borrowers at prime lending rates.

(B) REGULATIONS- The Secretary of Housing and Urban Development shall prescribe regulations to carry out this paragraph, which shall specify characteristics referred to in subparagraph (A) that indicate a higher risk of default and shall establish criteria based on such characteristics for determining whether a home loan is a subprime loan. Such characteristics shall include--

(i) higher loan fees or penalties;

(ii) higher interest rates;

(iii) higher debt-to-income ratios;

(iv) a history of loan delinquency;

(v) higher loan-to-value ratios;

(vi) lower credit scores or other credit ratings;

(vii) more recent declaration of bankruptcy;

(viii) lack of a credit history;

(ix) no-documentation or low-documentation loan underwriting; and

(x) any other factors that the Secretary considers appropriate.

SEC. 11. REPORT TO CONGRESS.

Not later than 120 days after the date of enactment of this Act, the Comptroller General of the United States shall survey, evaluate, and report to Congress on State mortgage lending practices and regulations related to--

(1) mortgage fraud and deception;

(2) predatory lending practices relating to mortgages; and

(3) foreclosure prevention and homeownership preservation programs offered by each State.