Rep. Maxine Waters, D-CA, introduced a bill last week that would require the Federal Housing Finance Agency to supervise servicers that do business with Fannie Mae and Freddie Mac. Waters said H.R. 6101, the Homeowner Mortgage Servicing Fairness Act of 2018, was drafted to better protect homeowners facing foreclosure. Just two months ago, the ranking member of the House Financial Services Committee also introduced a bill to prevent foreclosures on certain FHA borrowers. She argued that despite the lessons learned during the foreclosure crisis, bad behavior by mortgage servicers continues. “Borrowers can’t choose their servicer, so it’s especially important that Congress provide strong protections to prevent servicers from taking advantage of borrowers and to protect borrowers from...