Cummings Introduces Bill to Create “Independent Monitor” to Oversee Settlement for Illegal Foreclosures and Other Abuses by Mortgage Servicers

Washington, D.C. – April 25, 2013 – (RealEstateRama) — Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, announced the introduction of H.R. 1706, The Mortgage Settlement Monitoring Act of 2013, to create an Independent Monitor to oversee the distribution of funds paid by mortgage servicers for illegal foreclosures and other abuses against homeowners under their settlement agreement with federal regulators.