Housing Policy Council - HPC
The Housing Policy Council (HPC) is a lobbying group that’s a subsidiary of the Bank Policy Institute (previously under Financial Services Roundtable before it merged with the Clearing House Association).
Who does HPC lobby for? Mortgage-makers. In fact, at least three-fourths of US mortgages are issued by HPC members, which are all companies that lend out mortgages.
What does the HPC want? More mortgages, fewer foreclosures; that’s what makes for smooth business. Oh, and probably fewer regulations and more loopholes, but hey...that’s just about every industry.
Related or Semi-related Video
Finance: What is a second mortgage?4 Views
Finance allah shmoop What is a second mortgage Okay you
know what a first mortgages it's otherwise cleverly named what
is called it is called oh yeah Mortgage it's Just
a loan on a house You paid four hundred grand
for this baby Hundred grand down two hundred fifty grand
in a first mortgage And they're still fifty grand You
owe well where's that fifty large coming from the bank
wouldn't loan you any more on a first mortgage that
was costing you six percent a year Tio you know
to rent that money So you had to get a
second mortgage which should things go awry and you become
a statistic Well that's it's fully behind the first mortgage
in the priority stack of payback So in a bankruptcy
situation the first mortgage first what's called a first mortgage
get it fully paid along with any fees associated with
it and back interest accrued and any other things that
are associated with that first mortgage it stands in line
first in priority Then any cash leftover gets attributed to
that second mortgage So not surprisingly second mortgage money costs
a lot more to rent then first mortgage money because
the risk of non payment in a bad situation is
meaningful E higher especially when the borrowed does this for 00:01:25.136 --> [endTime] a living
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