WASHINGTON–House Financial Services Committee Chairman Barney Frank (D-Mass.) announced today that the committee has scheduled a hearing on government intervention in the mortgage foreclosure crisis for next week.
The committee will hold a hearing entitled Legislative and Regulatory Options for Minimizing and Mitigating Mortgage Foreclosures on Sept. 20. It will examine the president's recently announce plan to expand Federal Housing Administration programs and looking into other options to assist homeowners facing foreclosure.
Detailing the president's plan will be Treasury Secretary Henry Paulson, Department of Housing and Urban Development Secretary Alphonso Jackson, and Federal Reserve Chairman Ben Bernanke. Additionally, the committee is inviting consumer advocates and lenders to discuss other options to keep people in their homes.
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