Senator seeks foreclosure prevention expansion

Dayton Business Journal
U.S. Sen. Sherrod Brown, D-Ohio, introduced legislation to expand access to foreclosure prevention services and increase protections for homeowners and investors in mortgage-backed securities.
The Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011, which would prevent future servicer fraud and errors, improve foreclosure counseling and prevention and reform oversight of mortgage-based investing, comes on the heels of formal actions taken by the Federal Reserve Wednesday, April 13, against banking organizations with deficient practices in residential mortgage loan servicing and foreclosure processing.
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U.S. Sen. Sherrod Brown, D-Ohio, introduced legislation to expand access to foreclosure prevention services and increase protections for homeowners and investors in mortgage-backed securities.

The Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011, which would prevent future servicer fraud and errors, improve foreclosure counseling and prevention and reform oversight of mortgage-based investing, comes on the heels of formal actions taken by the Federal Reserve Wednesday, April 13, against banking organizations with deficient practices in residential mortgage loan servicing and foreclosure processing.

To read the rest of the article, click on the source link above.

Senator seeks foreclosure prevention expansion »