Mar 12, 2009By Diana Golobay
The Financial Institutions Subcommittee on Wednesday conducted a hearing of mortgage industry participants to focus on comprehensive mortgage lending reform legislation the Financial Services Committee is expected to consider later in March. A part of the original H.R. 3915 — the Mortgage Reform and Anti-Predatory Lending Act of 2007 — managed to be signed into law within separate legislation. That one provision, the requirement of a nationwide licensing and registration system for mortgage brokers, has been criticized as not doing enough to reform the system.
