The head of a key congressional committee Thursday called on top U.S. mortgage lenders and banks to voluntarily halt home foreclosures in all 50 states and the District of Columbia until the banks’ legal departments review their companies’ procedures.
Rep. Edolphus “Ed” Towns, D-N.Y., chairman of the House Committee on Oversight and Government Reform, also is asking (pdf) New York Attorney General Andrew Cuomo to investigate allegations of foreclosure fraud and other legal violations by banks and mortgage servicers in his home state.
