DODD STATEMENT ON PROBLEMS WITH MORTGAGE SERVICING FROM MODIFICATION TO FORECLOSURE

WASHINGTON, DC – November 17, 2010 – (RealEstateRama) — Today Senate Banking Committee Chairman Chris Dodd (D-CT) held an oversight hearing investigating problems in the mortgage servicing industry. The Committee heard testimony from state officials, industry executives, and experts in law and consumer protection, and explored how mortgage servicing practices may have prevented modifications and even resulted in unjustifiable foreclosures.