Frank to Deliver Remarks about the Role of Mortgage Servicers in the Foreclosure Crisis and the Overall Economy

May 02, 2008 (Congressional Documents and Publications/ContentWorks via COMTEX) -- -- May 2, 2008

Contact: Steve Adamske (202) 225-7141 or Heather Wong (202) 226-3314

Frank to Deliver Remarks about the Role of Mortgage Servicers in the Foreclosure Crisis and the Overall Economy

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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Heather Wong

Press Secretary

House Committee on Financial Services

Chairman Barney Frank (D-MA)

heather.wong@mail.house.gov

office: 202.226.3314

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