Progress in Administration and Other Efforts to Coordinate and Enhance Mortgage Foreclosure Prevention

Friday, November 2, 2007, 10:00 a.m., 2128 Rayburn House Office Building
Full Committee

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 Financial Services Committee to Hold Hearing on the Administration’s Progress in Preventing Mortgage Foreclosures

Washington, DC—Rep. Barney Frank, Chairman of the House Financial Services Committee, today announced that the committee will hold a hearing to examine recent progress in coordinating lenders, mortgage servicers, and nonprofit organizations to prevent mortgage foreclosures, encourage modifications of troubled loans, and assist at-risk homeowners.  One focus of the hearing will be the “HOPE NOW” initiative; an alliance consisting of lenders, servicers, and community-based counselors whose formation was announced by the Departments of Treasury and Housing and Urban Development on October 10, 2007.

“I welcome the Administration’s initiative, and I think it is important that we now get a chance to review the progress and see if there are ways that we can help with it,” said Chairman Frank.

Witness List & Prepared Testimony:

Panel One

Panel Two

• The Honorable Tom Miller, Attorney General, State of Iowa 
• Mr. Kenneth Wade, Chief Executive Officer, NeighborWorks America
• Mr. Bruce Marks, Chief Executive Officer, Neighborhood Assistance Corporation of America 
• Mr. Bill Longbrake, Anthony T. Cluff Senior Policy Advisor, The Financial Services Roundtable 
• Mr. Sandor Samuels, Executive Managing Director, Countrywide Financial Corporation
  

Available Member Statements:

Printed Hearing:
The printed version of this hearing will be posted as soon as it is available.

Related Documents: