National standards are needed for mortgage companies, Geithner says

12/17/2010 | Nasdaq.com

The new Consumer Financial Protection Bureau will examine the need to create national standards for mortgage lenders in the wake of reports of pervasive paperwork problems in the industry, Treasury Secretary Timothy Geithner said Thursday at a congressional hearing. "We'll look at the model of New York and other states to see what's the best way to proceed," Geithner said. "We want to make sure we've got a durable set of fixes."

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