WASHINGTON — The House Judiciary Committee decided to hold off on completing the mark up of The Emergency Home Ownership and Mortgage Equity Protection Act (H.R. 3609).
The mark up has been pushed back until next week, lobbyists have said of the bill that would allow bankruptcy judges to restructure the terms of a mortgage in a Chapter 13 proceeding. NAFCU and other lobbyists for lending institutions have opposed the bill, saying it would hike the cost of mortgages. CUNA has not developed an official position on the bill yet.
CUNA and NAFCU lobbied hard for a decade for the bankruptcy reform bill that moved more filers into Chapter 13 workout agreements.
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