Improving Loan Servicing to Prevent Latino Foreclosures

Author:	Janis Bowdler
Contact:	Janis Bowdler
Date:	Jul 30, 2008
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Topic:	Community and Family Wealth-Building
Region:	Northeast, Southeast, Midwest, Texas, Far West, California - Los Angeles, Puerto Rico, California - Sacramento, DC

Summary

Presented before the U.S. House of Representatives Committee on Financial Services, this testimony focuses on how improving the mortgage servicing system is the linchpin to a successful foreclosure prevention strategy. NCLR provides background on the importance of reform in the mortgage servicing industry and discusses the major barriers built into the system that stymie broad loss-mitigation efforts. Finally, the testimony closes with a set of recommendations.