WASHINGTON — Rep. Elijah Cummings, D-Md., is urging the House Committee on Oversight and Reform to investigate why regulators abruptly ended the independent foreclosure review and settled with banks last year.

The top Democrat on the panel penned a letter Thursday to Chairman Darrell Issa, R-Calif., asking that the committee hold a hearing on the issue, pointing to new documents that show consultants had been uncovering high error rates at some banks shortly before the review was halted and a deal was announced in January 2013. The review was conducted to address concerns that some borrowers lost their homes due to illegal or erroneous foreclosure practices.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.