Yet More Congressional Hearings on Foreclosure Crisis

The House Committee on the Judiciary held a hearing on "Foreclosed Justice: Causes and Effects of the Foreclosure Crisis" today. Yesterday, the Senate Banking Committee held hearings on the foreclosure crisis. Further hearings are scheduled for December 8, 2010.

Among the speakers were officials from

• Department of Treasury
• Federal Housing Finance Agency
• Comptroller of the Currency
• New York State Supreme Court Judge F. Dana Winslow
• Louisiana Bankers Association
• American Securitization Forum
• Professor Christopher L. Peterson, University of Utah

Among the issues addressed were:standing to foreclose, "Robo-signing", MERS, and projected future foreclosures. Rep. John Conyers (D-Mich.) stated some project that up to 13 million more homes will be lost to foreclosure before the crisis is over.