At Hearing, Lawmakers Ask Experts for Foreclosure Crisis Solutions

At yesterday’s Senate Banking Committee hearing, three experts in the law—a state attorney general, a legal services attorney, and a law professor—agreed on this about the mortgage servicing industry: The problems aren’t just technical, and they aren’t just with robo-signing.

For the banks to characterize the situation in such simplified terms “shows a certain type of arrogance,” said Iowa Attorney General Tom Miller, the point man for a 50-state investigation into flawed foreclosure practices.