Comment Of Senator Patrick Leahy On Foreclosure Settlement Between The U.S. Department Of Justice And Mortgage Servicers

“I commend Attorney General Holder, Associate Attorney General Perrelli, Secretary Donovan, and other officials for their persistence in reaching this landmark settlement to hold the nation’s biggest mortgage servicers accountable.  I also commend the state attorneys general, including Vermont’s Attorney General, Bill Sorrell, who played such an important role in investigating and exposing the abuse and misconduct that has harmed so many hardworking Americans. 

“This settlement is a welcome development.  It will provide relief for homeowners in Vermont and across the country, while taking an important step toward real accountability.  I hope it will lead to more responsible business practices and will stop banks and mortgage servicers from cutting the corners that have worsened the foreclosure crisis we face today.  Homeowners must be treated fairly, and the judicial system must be respected.  The housing foreclosure crisis is far from over, and members of Congress, federal regulators and law enforcement officials must work to ensure that the parties to this settlement abide by its terms as Americans continue to overcome our continuing economic challenges.”     

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