Chairman Towns Calls on Top Mortgage Banks to Temporarily Halt Foreclosures Nationwide |
Chairman Towns Calls on Top Mortgage Banks WASHINGTON – Rep. Edolphus “Ed” Towns (D-NY), Chairman of the House Committee on Oversight and Government Reform, today called on top U.S. mortgage lenders and banks to voluntarily suspend foreclosure proceedings in all 50 states and the District of Columbia until the banks complete internal investigations into their company’s mortgage servicing and foreclosure practices. The banks and lending institutions include CitiMortgage, JP Morgan Chase, Wells Fargo Home Mortgage, Bank of America, One West Bank, PHH Corporation, U.S. Bank Home Mortgage, Ally Financial (GMAC), PNC Financial Services Group, and Sun Trust Mortgage. Chairman Towns is also calling on New York State Attorney General Andrew Cuomo to investigate allegations of fraud and other possible violations of law by banks and mortgage servicers in connection with home foreclosures in the State of New York. According to the New York State Banking Department, in the first half of 2010, approximately 60,000 homeowners in New York received pre-foreclosure notices. ###
Documents and Links
Letter to New York State Attorney General Andrew Cuomo
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Committee On Oversight and Government Reform
U.S. House of Representatives | 2157 Rayburn House Office Building | Washington, D.C. 20515 | (202) 225-5051