SouthFloridaBankruptcyLawBlog

The House Committee on the Judiciary has set a hearing for Wednesday, November 17, 2010 on "Foreclosure Justice: Causes and Effects of the Foreclosure Crisis." The list of witnesses is not yet available.

The Senate Banking Committee has announced that it will hold a hearing on Tuesday November, 16 "to investigate allegations of improper and fraudulent mortgage servicing and foreclosure processing." The witnesses scheduled to testify are

On September 29, 2010, the House of Representatives passed H.R. 6198, the "Bankruptcy Technical Correction Act of 2010" and referred it to the Senate Judiciary Committee. HR 6198 was introduced by Rep. John Conyers (D-MI) on September 23, 2010. The bill would make technical corrections to the Bankruptcy Code and bankruptcy-related crime statutes in Title 18.

A recent case provides some insight into the world of insurance obtained by subprime mortgage companies to back their mortgage backed securities. The insurance was purchased by the mortgage companies to enhance the credit worthiness of the mortgage-backed securities.

New mortgage modification rules make it easier to combine a HAMP or "Obama Plan" mortgage modification with a Chapter 13 Bankruptcy. Combining a HAMP mortgage modification may be beneficial to many homeowners.