DODD ANNOUNCES HEARING TO INVESTIGATE MORTGAGE SERVICING AND FORECLOSURE PRACTICES

WASHINGTON – Today Senate Banking Committee Chairman Chris Dodd (D-CT) announced that the Committee will hold a hearing on Tuesday, November 16, to investigate allegations of improper and fraudulent mortgage servicing and foreclosure processing.

 

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” said Chairman Dodd. “I am deeply troubled by recent revelations and allegations of practices by some of the nation’s largest lenders. Regulators at the federal, state, and local levels have a responsibility to uphold the law and protect consumers from unfair foreclosure, and lenders have a duty to not cut corners around the law.”   

 

Hearings are webcast live at: http://banking.senate.gov.

Testimony and archived videos will be posted at: http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Home.

 

           

 

                                                Room 538, Dirksen Senate Office Building

 

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