Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Mortgage bankruptcy bills spring early in 09
WASHINGTON (1/8/09)—Lawmakers in both houses of the U.S. Congress reintroduced legislation this week that would let judges modify mortgage terms in bankruptcy proceedings. After falling short in completing the legislative process in 2008, the bill was reintroduced in the Senate by Sen. Dick Durbin (D-Ill.) and in the House by Rep. Brad Miller (D-N.C.) Tuesday. Ryan Donovan, vice president of legislative affairs for the Credit Union National Association (CUNA), said he believes that the lawmakers will try to get the bill attached to a much-anticipated, second economic stimulus package. Durbin tried a similar strategy at the end of 2008 when he attempted to get mortgage “cramdown” provisions—that would have granted bankruptcy judges the power to rewrite the terms of loans—included in The Foreclosure Prevention Act of 2008.


RSS print
News Now LiveWire
NCUA confirmed earlier indications that there would be no National Credit Union Share Insurance Fund premium for 2014.
9 hours ago
.@NJCUL supported prized-linked savings legislation introduced in New Jersey state Senate.
9 hours ago
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
16 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
17 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
18 hours ago