Federal Attack On Calif. Mortgage Overhaul Spurs Debate

Law360, San Diego (May 18, 2012, 8:23 PM EDT) -- A federal home loan regulator’s criticism of California’s mortgage reform proposals is fueling a debate between opponents who claim the legislation could increase litigation for lenders and supporters who argue the measures are necessary to better protect borrowers from losing their homes.

The general counsel for the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, sent a letter on May 11 to members of a California conference committee reviewing a package of bills backed by California Attorney General Kamala Harris, warning that one...
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