<p>DENVER – A bill to curb predatory mortgage lending in Colorado has easily cleared its first hurdle, winning a 6-1 vote by the Senate Business Labor and Finance Committee. The measure, backed by a broad coalition of consumer groups and joined by the Colorado Credit Union League, would set new thresholds defining abuse practices on mortgage lending and is designed to "drive unscrupulous lenders from the state." The Senate panel heard testimony from John Sheehy, senior vice president of the Colorado League, along with Denver area citizens who said they had been victimized by abusive practices. The measure, drafted after bills in other states by the American Association of Retired Persons, is expected to reach the full Senate in about two weeks, and the prospects are good for passage, said industry sources.</p>
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