Opposition could derail mortgage-modification proposal

04/28/2009 | Washington Post, The

Senate Majority Whip Richard Durbin, D-Ill. has spent the past several weeks negotiating with executives from JPMorgan Chase, Wells Fargo and Bank of America over a possible compromise on a bill that would give bankruptcy judges the authority to modify mortgages. "I hope we can muster the courage and find the votes, although I know it will be hard. It's hard to imagine that today the mortgage bankers would have clout in this chamber, but they do," Durbin said.

View Full Article in:

Washington Post, The

Published in Brief: