House Leaders Urge Servicers to Forbear Foreclosures until Oct. 1
August 11, 2008
House Financial Services Committee Chairman Barney Frank, D-MA, and other top Democrats have called upon mortgage servicers to withhold foreclosure action over the next few months and help distressed homeowners to qualify for the FHA-backed “HOPE for Homeowners” refinance program. In a letter sent to a number of major servicers and industry trade groups last week, Frank asked the organizations...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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