Study Suggests State's Banks Better than Brokers

[Veronica Corningstone]

A recent study by the Center for Responsible Lending and Coastal Enterprises Inc. reportedly found that conditions provide for predatory lending practices to flourish in Maine. The segment of out-of-state lenders and brokers dominate Maine's subprime mortgage market, the authors stated, noting that these originators are subject to fewer regulations than Maine banks.

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