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FTC Looking Into Mortgage Lender Practices

Law360 (June 6, 2008, 12:00 AM EDT) -- The U.S. Federal Trade Commission is “actively assessing” whether mortgage lenders and servicing companies have made deceptive claims or violated other laws the commission enforces, according to a letter sent to a senator who held a hearing about the behavior of mortgage lenders in personal bankruptcies.

In a letter sent Wednesday to Sen. Charles Schumer (D-N.Y.), FTC Chairman William Kovacic said that the FTC was looking into deceptive and illegal practices, as it has done before.

Kovacic cited the FTC's look at Bear Stearns and its...
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