• 7/25/2008
  Frank, Waters Urge Mortgage Industry to Forbear Foreclosures Until New Law Takes Effect
  Washington, DC - House Financial Services Committee Chairman Barney Frank (D-MA) and Housing and Community Opportunity Subcommittee Chairwoman Maxine Waters (D-CA) today called on the mortgage industry to delay or cancel foreclosures until a new law designed to refinance in-trouble borrowers goes into effect on October 1 for troubled borrowers who may qualify for the program.  The new legislation, which is expected to be signed by President Bush soon, will allow qualified applicants to refinance into FHA-insured mortgages and avoid foreclosures.  Reps. Frank and Waters are urging the mortgage industry to work with borrowers who can take advantage of the new refinancing program.  Chairman Frank will hold a hearing in September to monitor the progress of loan modification by mortgage servicers. Read full story.

• 7/24/2008
  Frank Statement Regarding Effective Date of H.R. 3221
  Washington, DC - House Financial Services Committee Chairman Barney Frank (D-MA), today issued the following correction to a statement he made after a press conference regarding the effective date of the FHA Housing Stabilization and Homeownership Retention Act under H.R. 3221: Read full story.

• 7/23/2008
  House Passes Comprehensive Housing Rescue and Foreclosure Prevention Legislation
  Washington, DC - The U.S. House of Representatives today passed H.R. 3221, one of the most important housing reforms in decades, by a vote of 272 to 152.   The bill, the American Housing Rescue and Foreclosure Prevention Act, represents the most comprehensive response yet to the American mortgage crisis, and will help families facing foreclosure keep their homes, help other families avoid foreclosures in the future, and help the recovery of communities harmed by empty homes caught in the foreclosure process.  Read full story.

• 7/23/2008
  TODAY: House to Consider H.R. 3221
  Washington, DC - The U.S. House of Representatives will consider today H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act of 2008.  Please tune in to CSPAN for current floor action. Read full story.

Economic, Mortgage and Housing Rescue Proposal

Predatory and Subprime Mortgage Lending Issues

National Affordable Housing Trust Fund

Executive Compensation

At Issue: Retailers Purchasing Industrial Loan Companies (ILCs)

Response to the Gulf Coast Hurricanes