Congress to meet to discus options for closing barn doors...

[fencerider2]

Whew. It's a good thing Congress is on this problem. We'll have a solution pretty soon, maybe sometime this decade!

http://news.yahoo.com/s/ap/20071115/...isky_mortgages

_Ban lenders from making loans that borrowers don't have the ability to repay;

_Prohibit lenders from steering homeowners into refinanced mortgages that don't provide any benefit and create fines of triple the broker fee and costs;

_Make Wall Street banks that package mortgage securities into investments liable for violations of lending laws;

_Prohibit excessive fees for payoff information or late payments, the financing of points and fees and practices that increase the risk of foreclosure like balloon payments and encouraging borrowers to default; and

_Create a nationwide licensing system for mortgage brokers and bank loan officers called the Nationwide Mortgage Licensing System and Registry.

[dscivicdx]

lol... man, they are so proactive!