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Monday, August 13, 2007

Dems take on mortgage meltdown

August 13 2007
In the wake of the subprime mess, Democratic presidential candidates are grabbing hold of the issue and offering their own solutions. And the problem, according to many of them, lies with the mortgage broker. Sen. Barack Obama has introduced legislation targeting fraud and predatory lending. John Edwards, the former senator from North Carolina, has said he wants to ban certain fees, establish uniform broker licensing standards and start a national database for disciplinary infractions. Last week, Sen. Hillary Clinton came out with a plan to address lending abuses. One of its main policy planks was to "crack down on unscrupulous brokers."


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