Washington, DC– Oregon’s Senator Jeff Merkley today wrote a letter to President Obama after news broke that the Federal Reserve secretly loaned or guaranteed $7.7 trillion to major financial institutions such as Goldman Sachs, Bank of America, and J.P. Morgan. It is reported by Bloomberg Markets Magazine that the Wall
Our homes are supposed to be the safe places in our lives. But that feeling of comfort is shattered when a family is faced with foreclosure. Financial problems, topped by foreclosure of one’s home, create unbelievable stress. Besides the stress to the homeowner and his or her family, foreclosures damage
WASHINGTON, DC – Oregon’s Senator Jeff Merkley joined 33 of his colleagues in asking the Obama Administration and the Federal Housing Finance Agency (FHFA) to swiftly develop an efficient and effective real estate owned (REO) management strategy. This strategy will convert foreclosed homes into affordable rentals to help address the foreclosure
Portland, OR – Oregon’s Senator Jeff Merkley held a press conference in Northeast Portland today to help expose mortgage modification scams that are affecting homeowners in Oregon. Merkley was joined at today’s event by victims of mortgage modification scams who shared their painful experiences and urged Oregonians to be extremely
PORTLAND, OR – Oregon’s Senator Jeff Merkley issued the following statement on news that home prices have fallen to their lowest level since the collapse of the housing market: “Nearly three years after an economic collapse caused by the actions of Wall Street, the big financial firms are back on
WASHINGTON — U.S. Senators Jeff Merkley (D-OR) and Olympia Snowe (R-ME) today introduced the “Regulation of Mortgage Servicing Act” to help homeowners stay in their homes by making the rules for mortgage servicers more fair and transparent. The bill would require banks and other mortgage servicers to create a single point
Washington, DC – Three federal agencies announced agreements on Wednesday with the nation’s largest mortgage servicers aimed at reforming the industry. The regulators’ consent agreement is in response to an interagency review from last year that documented a host of abuses in the loan servicing industry. Oregon’s Senator Jeff Merkley,
Washington, D.C. – A group of 18 U.S. Senators, led by Jeff Merkley (D-OR) and Olympia Snowe (R-ME), urged government agencies to take action to prevent foreclosures and help families keep their homes. The senators made their request in a letter sent to Treasury Secretary Timothy Geithner, Secretary of the
It was only time before the handling of foreclosures by loan providers made it to the political arena. And it looks like U.S Sen. Jeff Merkley, D-Ore., will be leading the push. Merkley sent a letter today to U.S. Treasury Secretary Timothy Geithner and U.S. Secretary of Housing and Urban
WASHINGTON (Dow Jones)–Sen. Jeff Merkley (D., Ore.) on Monday urged the Obama administration to start an independent investigation of Ally Financial and other servicers of home mortgages after the discovery that many foreclosure documents had not been properly reviewed. “I urge you to jointly appoint an independent investigator to examine
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