Lenders are scrambling to kill an amendment to the Senate's consumer bankruptcy reform bill that could let debtors keep their homes without paying their mortgages.

Introduced by Sen. Byron Dorgan, D-Ill., the amendment would give bankruptcy judges authority to enforce the Home Ownership and Equity Protection Act, which imposes strict disclosure requirements on lenders that make high-fee or high-interest-rate loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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