Sen. Mark Warner, a member of the Senate Banking Committee, called on President Obama to set up a task force to examine the foreclosure paperwork issue that has stalled thousands of foreclosures and raised questions about their legality.

"I am writing to urge you to establish an independent and nonpartisan task force to make recommendations for addressing the recent and ongoing problems with the mortgage foreclosure process," the Virginia Democrat wrote Wednesday in letter to Obama. "These most recent troubles demand a swift response if we are to avoid severe and prolonged repercussions."

Warner added that a task force would help create policy responses. "In this highly charged political environment, an independent task force would help us devise a set of nonpartisan policy recommendations to address these problems. It would do so separate and apart from any ongoing legal inquiries, conceivably by mid-December," he wrote.

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