House schedules hearing on subprime lending

The House Financial Services Committee will hold a hearing this month on subprime mortgage lending, Chairman Barney Frank announced Friday

Frank said the April 17 hearing will "explore possible responses to recent increases in home mortgage foreclosure rates" and include representatives from Fannie Mae, Freddie Mac, the Federal Housing Administration, the mortgage industry and consumer organizations.

Frank, D-Mass., told lawmakers in a March 29 letter that the committee was drafting legislation to address

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