Congresswoman Rosa DeLauro (D-CT) reintroduced the Regulation of Mortgage Servicing Act today, a bill that will establish clear, national standards for mortgage lenders and help struggling homeowners avoid foreclosure.
"I continue to hear from those who are in danger of losing their homes and yet, cannot get anyone from their lenders or mortgage servicers to answer their questions. These families need help, and the industry needs better regulation. The Regulation of Mortgage Servicing Act would establish national standards that ensure homeowners have access to the information they need, and are given the opportunities they need to avoid foreclosure and keep their homes. As last week's progress report showed, we still have a long way to go before people are being treated fairly. Homeownership is the American dream, and we must do all we can to allow as many Americans as possible to achieve it."