October 8, 2010
Iowa effort part of national move to review documents, protect consumers
WASHINGTON, D.C. - In a letter to Iowa's leading mortgage insurers, Senator Tom Harkin (D-IA) today said he supported a request by Attorney General Tom Miller to suspend foreclosure proceedings after reports revealed allegedly improper actions and defective court documents. Earlier today, Bank of America announced that it has suspended foreclosure proceedings in all fifty states while the bank examines foreclosure documents for errors.
"Consumer protection is our number one priority," said Harkin. "And right now, it appears as though consumers in Iowa and around the country may not be getting a fair deal in certain foreclosure proceedings."I am very concerned by reports that foreclosure proceedings were not adequately reviewed and that documents were submitted improperly to Iowa courts, potentially subjecting numerous Iowa homeowners to inappropriate foreclosure proceedings," Harkin wrote. "Until Attorney General Miller is able to complete a full review of these practices, I believe it is only fair that you freeze pending foreclosures, sheriff sales, and evictions in Iowa."
The full text of the letter can be found here.
