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Barney Frank: Homeowners Shouldn’t Have ‘False Hopes’ (Bawney mum on 2012 Senate wace)
Wall Street Journal ^ | 11/18/10 | Alan Zibel

Posted on 11/19/2010 1:56:28 PM PST by Libloather

Barney Frank: Homeowners Shouldn’t Have ‘False Hopes’
November 18, 2010, 12:00 PM ET
By Alan Zibel
Associated Press

Rep. Barney Frank U.S. homeowners who have missed mortgage payments shouldn’t have “false hopes” that they can challenge foreclosures due to paperwork flaws, Rep. Barney Frank (D-Mass.) said Thursday.

Frank, the outgoing chairman of the House Financial Services Committee, said at a subcommittee hearing that banks should be doing “everything possible to straighten out that paperwork problem.” But, he added that, consumers should not “get false hopes that this is going to lead to a substantial number of foreclosures being permanently forgotten.”

Several major lenders, including Bank Of America Corp., Wells Fargo & Co., Ally Financial Inc.’s GMAC Mortgage and J.P. Morgan Chase & Co., have been reviewing thousands of foreclosure cases amid revelations they filed large numbers of foreclosure documents without reviewing their contents.

**SNIP**

Frank is losing his chairman’s seat after Republicans take control of the House in January. He said he hopes lawmakers can work together next year in a bipartisan fashion to enact reforms of the mortgage industry.

One goal, he said, should be to establish a single entity to make decisions about whether homeowners receive loan assistance. Now, disputes between investors in mortgage-backed securities can block such requests.

“There should not be important decisions that need to be made in the private sector and no one has the authority to make them,” Frank said. “We have a tangle that is very daunting.”

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: barney; barneyfrank; frank; housing; perp
Frank is losing his chairman’s seat after Republicans take control of the House in January.

Yeah, that's a real shame. NEXT!

Barney Frank mum on 2012 Senate wace

1 posted on 11/19/2010 1:56:39 PM PST by Libloather
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To: Libloather

Wow, who’s the dude(?)on the right with the crazed expression and chihuahua collar?


2 posted on 11/19/2010 1:59:33 PM PST by SandyInSeattle (When life gives you lemons, throw them back and demand chocolate.)
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To: SandyInSeattle
Wow, who’s the dude(?)on the right with the crazed expression and chihuahua collar?

ONE of his boyfwiends? (There's so many, I can only assume.)

3 posted on 11/19/2010 2:25:10 PM PST by Libloather (Teapublican, PROUD birther, mobster, pro-lifer, anti-warmer, enemy of the state, extremist....)
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To: Libloather

Keep your panties on, Barney. The employment recession you precipitated will be with us awhile. Nothing you can do about it, PansyBoy.


4 posted on 11/19/2010 2:58:26 PM PST by Nonstatist
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To: SandyInSeattle

That’s sociopath and psychopath David Brock, of Anita Hill fame, who now runs Media Matters. The psycho look is not staged. It’s the real David Brock. He should be in an insane asylum, right next to fellow sociopath and psychopath George Soros.


5 posted on 11/19/2010 3:05:58 PM PST by WashingtonSource
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To: WashingtonSource

THAT’S Buttboy Brock? Now that I’ve taken a second look, he’s one of Frank’s franks! No kidding.


6 posted on 11/19/2010 3:43:07 PM PST by Libloather (Teapublican, PROUD birther, mobster, pro-lifer, anti-warmer, enemy of the state, extremist....)
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To: Libloather

Barney and his Fannie May & Freddie Mac boyfriends should all be be audited.


7 posted on 11/20/2010 12:30:32 AM PST by M. Espinola (Freedom is never "free")
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