Mortgage Default Information

Veto On Mortgage Bill Sustained By House

Investors Business Daily |

In Brief...

In what was largely a token vote, the House this week declined to override President Obama's veto of legislation that could have facilitated the processing of home foreclosure documents.. Obama, in rejecting the bill, said it could worsen problems related to recent revelations that some mortgage lenders have been evicting homeowners using fraudulent or flawed methods to expedite foreclosures.. "The president took the responsible course in refusing to sign the bill, so we can give it a fresh examination in light of these concerns," said House Judiciary Committee Chairman John Conyers, D-Mich.. "This legislation expressly requires that lawful notarizations be recognized in other states and in no way validates improper notarizations," he said.. "Let's be a little more careful here," responded Conyers.

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