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Ore. Senator calls for special investigator for foreclosures

Sen. Jeff Merkley (D-Ore.) called on the Treasury Department and Housing and Urban Development officials to appoint an independent investigator to examine the foreclosure actions at major loan servicers.

Merkley said he believes foreclosures at companies with known problems should not be allowed to move forward and that he's "deeply concerned" that several leading banks have been processing foreclosures without adequate review of key documents and with perhaps even fraudulent approval signatures.

In a letter dated Monday, Merkley went further than other U.S. lawmakers and state officials in asking that completed foreclosure actions also be reviewed. He said that "proper restitution under the law be made for every family not treated properly during the foreclosure process."

By Ariana Eunjung Cha  | October 6, 2010; 11:14 AM ET
Categories:  Housing  
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Next: Wells Fargo will spend $772M modifying loans


I wish Virginia had a Senator like Jeff Merkeley instead of the two anti-consumer, pro-business-crimes crooks that it has.

Posted by: solsticebelle | October 6, 2010 11:52 AM | Report abuse

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