Housing Commissioner Urges Banks to Give Aid to Struggling Borrowers

By Kyle Chezum Updated on 10/27/2010

10/27/2010

Federal Housing Administration Commissioner David Stevens has urged banks to help struggling borrowers rather than pushing foreclosure in every case, for the sole purpose of rebuilding public faith in the mortgage industry.  In the wake of mass litigation toward major banks and ongoing investigations into potentially fraudulent foreclosure processing, many buyers are more hesitant than ever to work with mortgage companies.  Stevens hopes that banks will consider working to improve the overall image of the industry.

For full story click here.