Frank: Single Entity for Loan Assistance — New York Real Estate

Frank: Single Entity for Loan Assistance

by Raja Tayeb on November 22, 2010

Single Entity for Loan Assistance

Home owners behind in their mortgage payments shouldn’t think that investigations into lender paperwork flaws will bail them out of their financial troubles, U.S. Rep Barney Frank, a Massachusetts Democrat, said Thursday during a House Financial Services subcommittee hearing.

Frank, who is losing his seat as chair of the committee, is pushing for establishing a single entity to make decisions about home owner loan assistance instead of allowing multiple interests to hold up the process.

“There should not be important decisions that need to be made in the private sector and no one has the authority to make them,” Frank said. “We have a tangle that is very daunting.”


--- Source: Associated Press, Alan Zibel (11/18/2010)

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s