Dodd to Hold Hearing on Mortgage Servicing and Foreclosure Practices

November hearing to investigate fraudulent activities

Senate Banking Committee Chairman Christopher Dodd, D-Conn., plans to hold a hearing on November 16 to investigate allegations of improper and fraudulent mortgage servicing and foreclosure processing.

“American families should not have to worry about losing their homes to sloppy bureaucratic mismanagement or fraud,” said Dodd in a statement. “I am deeply troubled by recent revelations and allegations of practices by some of the nation’s largest lenders. Regulators at the federal, state, and local levels have a responsibility to uphold the law and protect consumers from unfair foreclosure, and lenders have a duty to not cut corners around the law.”

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