House Committee Eyes Mortgage Reform

"The House Financial Services Committee is slated this week to hold a hearing on mortgage reform legislation. Representatives Brad Miller, D-N.C., and Mel Watt, D-N.C., last month introduced the bill, H.R. 1728 — called the Mortgage Reform and Anti-Predatory Lending Act of 2009 — which aims to curb predatory lending, “which has been a major factor in the highest home foreclosure rate in the nation in 25 years,” the committee said in a statement."