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Old 10-07-2010, 16:43   #1
nmap
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Join Date: Jun 2007
Location: San Antonio, Texas
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Obama won't sign bill that would affect foreclosure proceedings

The title of this post is the title of the article.


LINK

Excerpt:

Amid growing furor over the legitimacy of foreclosure proceedings, White House officials said Thursday that President Obama will not sign a bill passed by Congress without public debate after critics said the legislation could loosen standards for foreclosure documents.

The bill, named the Interstate Recognition of Notarizations Act, would require courts to accept document notarizations made out of state. Its sponsors intended to promote interstate commerce. But homeowner advocates warn the bill could allow lenders to cut even more corners as they seek to evict homeowners.

White House press secretary Robert Gibbs said the president did not believe Congress meant to undermine consumer protections regarding foreclosure challenges. Still, Obama will use a "pocket veto" on the bill, which will effectively kill it.


(The article at the link is longer, and may be of interest)
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