Towns Reports on Foreclosure Hearing
DOWNTOWN BROOKLYN — Congressman Ed Towns of Brooklyn, chair of the House Oversight and Government Reform Committee, reports that a field hearing held Monday at Brooklyn Borough Hall on mortgage servicing practices and the foreclosure crisis was successful.
Its focus was on how those in Brooklyn will be affected by the recent $26 billion mortgage settlement deal with five banks over fraudulent foreclosure practices.
He was joined by representatives Darrell Issa of California and Elijah Cummings of Maryland and other members of the House committee to hear NYS Attorney General Eric Schneiderman, who has been selected to co-chair the Mortgage Task Force that will monitor the settlement.