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Washington
Inside Washington (12/11/2007)
* WASHINGTON (12/12/07)--The Senate was scheduled Tuesday to consider a tougher mortgage bill, authored by Sen. Christopher Dodd (D-Conn.). Dodd’s legislation would create new regulations for investment banks and mortgage brokers and crack down on aggressive lending practices, according to congressional aides (The New York Times Dec. 11). Dodd’s bill is similar to Rep. Barney Frank’s (D-Mass.) legislation, which the House approved last month. But unlike Frank’s measure, Dodd’s proposal would bar prepayment penalties and would not call for a national registry for loan officers and brokers. Strong opposition to Dodd’s bill from bankers and mortgage companies is expected …


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