Kanjorski Bill Could Curb Mortgage Market Abuses

Law360, New York (November 19, 2007, 12:00 AM EST) -- In one of the latest responses to the ever-encroaching shadow looming over the mortgage securitization market, Representative Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee, introduced H.R. 3837, the Escrow, Appraisal and Mortgage Servicing Improvements Act (the “Bill”).

The Bill confronts the pervasive perception of the continuing perpetration of abusive and deceptive practices on the part of mortgage servicers and appraisers, particularly in the subprime market where homeowners are most vulnerable and exposed.

The Bill...
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