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Washington, DC - Rep. Barney Frank, chairman of the House Committee on Financial Services will deliver remarks on the role of mortgage servicers in the foreclosure crisis and the overall economy.
Who: House Financial Services Chairman Barney Frank
What: Speech on the role of mortgage servicers in the foreclosure crisis and overall economy
When: Monday, May 5, 2008 11:00 AM
Where:Hynes Convention Center, Ballroom 302-304, 900 Boylston Street, in Boston
Background:
On Wednesday, the House will take up H.R. 5830 to expand the FHA program to help refinance at-risk borrowers into viable mortgages. The bill also requires the Federal Reserve Board to conduct a study on the need for an auction or bulk refinancing mechanism.
In addition, the House will also consider H.R. 5818 to establish a $15 billion, HUD-administered loan and grant program for the purchase and rehabilitation of owner-vacated, foreclosed homes with the goal of stabilizing and occupying them as soon as possible. $7.5 billion of the funds would be for loans, and the other $7.5 billion would be for grants.
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