House Readies the Red Pen for Mortage Reform

The House Financial Services Committee plans to meet Tuesday to consider legislation that may bring sweeping changes to the way the mortgage industry conducts business.

The bill in question, called HR1728 or the Mortgage Reform and Anti-Predatory Lending Act, aims to curb forms of lending that have been a major factor in the highest home foreclosure rate in the nation in 25 years the committee said in a statement.