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Predatory Lending is a major contributor to the economic turmoil we are currently experiencing. Here is an example of what I am talking about: Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.) Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices: "Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM." The Center for Responsible Lending says YSP "steals equity from struggling families." 1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers. http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F