Industry News

House committee to study foreclosures in Ohio

Cuyahoga County among areas with highest foreclosure rates in nation

The House Financial Services Committee will hold a field hearing today in Ohio to discuss foreclosure practices in the state. The hearing will look at ways to reduce the number of foreclosures in Cuyahoga County, where the rate is among the highest in the nation. Specifically, the hearing will examine how partnerships between community organizations and state and local governments can help ease the amount of foreclosures. Rep. Steven C. LaTourette, R-Ohio, will chair the hearing. Scheduled to testify are: Daryl P. Rush, director of the Department of Community Development for Cleveland, Ohio; Mark Wiseman, director of the Cuyahoga County Foreclosure Prevention Program; Michael Fratantoni, senior director of Single Family Research and Economics for the Mortgage Bankers Association; Deborah Oakley, senior vice president of Homeownership Preservation for National City Corp.; Vanessa Randolph, director of Fannie Mae-Northern Ohio Community Business Center; Lou Tisler, executive director o...