Waters Introduces Bill To Increase FHFA Oversight In Foreclosures

Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., introduced a new bill which would increase oversight for mortgage servicers who work with Fannie Mae and Freddie Mac. Waters explained borrowers can’t choose their servicer so it’s especially important that Congress provide strong protections to prevent servicers from taking advantage of borrowers and to protect borrowers from foreclosure.