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NAFCU Tries to Head Off Mortgage Bankruptcy Reform as it Gains Steam

In preparation for today's 1 p.m. markup of The Emergency Home Ownership and Mortgage Equity Protection Act of 2007 (H.R. 3609), NAFCU sent a letter to the House Judiciary Committee leadership.

By Sarah Snell Cooke | Updated on November 07, 2007

ARLINGTON, Va. — In preparation for today’s 1 p.m. markup of The Emergency Home Ownership and Mortgage Equity Protection Act of 2007 (H.R. 3609), NAFCU sent a letter to the House Judiciary Committee leadership.

“While fully recognizing the well-intentioned efforts of H.R. 3609 to address issues related to the current sub-prime mortgage crisis, we believe that the potential impact H.R. 3609 may impose on the credit availability to consumers outweighs its benefits and we urge the Committee to oppose this legislation in its current form at mark-up,” NAFCU President/CEO Fred Becker said.

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