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Rep. Waters asks for hearing on foreclosure review
WASHINGTON (MarketWatch) -- Rep. Maxine Waters, the California Democrat who's the ranking member of the House Financial Services Committee, asked the committee's chairman, Rep. Jeb Hensarling, for the committee to hold a hearing on the end of the independent foreclosure review program. Last month, the Office of the Comptroller of the Currency and the Federal Reserve abruptly ended the program and replaced a consultant review of foreclosure wrongdoing with payouts of $8.5 billion. Waters said there are many unresolved details, including the types of remediation available and how the direct and indirect payments will be made.
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