Congress Watch: Sub prime mortgages

The Senate is holding hearings on sub-prime lending and lending practices in this country. I guess after so many sub-prime lenders bit the dust the past few months and foreclosures increasing it was only a matter of time before Congress stepped in.

UPDATE 2-US mortgage practices out of balance – key senator Regulatory News “WASHINGTON, Feb 7 (Reuters) – U.S. mortgage lending practices are ‘out of balance’ and need to protect minority borrowers and those with less than pristine credit, Sen. Christopher Dodd, chairman of the Senate Banking Committee, said on Wednesday.”

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