Media

By Ariana Eunjung Cha

Members of Congress criticized federal regulators for failing to recognize problems with the nation's foreclosure system before they were brought to light by media reports, and they called for an examination into whether these issues present a systemic risk to the financial system.

By Ronald D. Orol

The head of a congressional housing committee on Thursday said the Treasury Department hasn't done enough to push lenders to modify mortgages that are close to default.

By Lorraine Woellert and Clea Benson
 
U.S. House lawmakers criticized the Obama administration's program to prevent foreclosures as a Treasury Department official testified that the initiative has reduced monthly mortgage payments for almost 520,000 homeowners.

By William Alden

A top Treasury department official said Thursday that the government has still not imposed any fines on banks that do not comply with the Obama administration's mortgage modification program.

By ALAN ZIBEL

House lawmakers scolded federal regulators Thursday, expressing frustration that they failed to investigate problems with foreclosure documents until the issue attracted widespread attention this fall.

By Peter Schroeder
 
Both Republicans and Democrats pressed housing regulators on their inability to combat or prevent the mishandling of mortgage documentation amid foreclosure proceedings during a House Financial Services subcommittee hearing on Thursday.

By Ronald D. Orol