Hispanic home sellers to back tougher loan standards

“A group of real estate professionals who cater to Hispanic home buyers will endorse tougher business practices to protect these borrowers from fraud and the dangers of subprime loans when they meet on Friday for a legislative conference in Washington.

Greater disclosure about the long-term costs of a mortgage and mandatory licensing for mortgage brokers are among the recommendations that the group is expected to support at the conference, according to Tim Sandos, the president of the National Association of Hispanic Real Estate Professionals.”

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