The House Financial Services Committee plans to hold a hearing today on the proper role of the private sector and the government in dealing with the continuing rash of foreclosures.
Among those slated to testify are: Molly Sheehan, the senior vice president for Chase Home Finance; Jack Schakett, the risk management executive for Credit Loss Mitigation Strategies; Julia Gordon, a senior policy counsel for the Center for Responsible Lending; Anthony Sanders, a distinguished professor of real estate finance at George Mason University; Laurie Goodman, senior managing director Amherst Securities LLP; and Bruce Marks, Neighborhood Assistance Corp. of America.
Also on the witness list are: Herbert Allison, Jr., the assistant secretary for financial stability at the Treasury Department; Michael Krimminger, the special adviser for policy at the Federal Deposit Insurance Corp.; and Douglas Roeder, a senior deputy comptroller for large bank supervision at the Office of the Comptroller of the Currency.
Lawmakers have continued to debate whether to take action to force more mortgage modifications. The House has passed a bill several times that would let judges cram-down primary mortgage debt in the bankruptcy process, The legislation has failed to gain traction in the Senate.