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(AP)  Clamping down on abuses in the home lending
market is the first order of business for Minnesota's new attorney
general.
   
   DFLer Lori Swanson, who takes over in January for departing
Attorney General Mike Hatch, announced Thursday the formation of an
11-member study group to come up with proposals to stop so-called
predatory lending.

      She said possible legislation could include requiring more
disclosure from brokers, additional regulation of players in the
home loan industry, stiffer rules to make sure buyers aren't given
loans they can't afford and tighter limits or bans on prepayment
penalties.
  
    Swanson said predatory lending is contributing to increased home
foreclosures, and not just in low-income areas. "This problem
affects cities, suburbs and the entire state of Minnesota," she
said.

      Swanson was elected to the job in November after nearly eight
years as a top deputy to Hatch, who didn't seek a third term.
      


Gallery

Lori Swanson says possible legislation could include requiring more
disclosure from brokers, additional regulation of players in the
home loan industry, and stiffer rules to make sure buyers aren't given
loans they can't afford.

New attorney general makes lending abuses her first target

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