ACORN Asks Congressional Panel To Check For MHA Compliance

Posted by Orb Staff on April 13, 2009 No Comments
Categories : Mortgage Servicing

sociation of Community Organizations for Reform Now (ACORN) has written a letter to the Congressional Oversight Panel requesting a hearing to gauge TARP recipients' compliance with the Obama administration's Making Home Affordable program. Companies that receive TARP money are required to use the program as a foreclosure prevention tool. In a letter to the panel's chairwoman, Elizabeth Warren, ACORN noted that servicing companies are ‘notoriously opposed to any sort of transparency and accountability in their foreclosure protocols.’ The nonprofit group says the panel is uniquely positioned to provide such accountability. Last month, ACORN touted a survey that found that 76% of outstanding mortgages are serviced companies that have committed to implementing the Obama plan. SOURCE

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