By Jia Lynn Yang
Washington Post Staff Writer Thursday, October 7, 2010; 2:34 PM
Amid growing furor over the legitimacy of foreclosure proceedings, White House officials said Thursday that President Obama will not sign a two-page bill passed by lawmakers 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 the effort to promote interstate commerce. But homeowner advocates warn the new law could allow lenders to cut even more corners as they seek to evict homeowners.
The courts have stated that the out-of state notarizations are illegal and have thrown foreclosure cases out because of them. In Florida, the GOP legislature passed a bill authorizing special courts using retired judges to expedite foreclosures.
Republicans are bending over backwards to kiss the asses of corporate bankers.
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," which will effectively kill the legislation.
Democratic leaders on the Hill were scrambling to figure out how the bill managed to sail through both chambers of Congress without any objection. The episode may prove embarrassing for Democrats who in recent weeks have been calling for federal investigations into flawed paperwork, forged documents and other kinds of misconduct in foreclosure proceedings initiated by big lenders.
The House passed the bill in April by a voice vote, meaning there's no record of who voted for or against the legislation. The Senate passed the bill on Sept. 27, just before recess, without any debate.
Even the bill's main sponsor, Rep. Robert Aderholt (R-Ala.), was surprised by how quickly the legislation was greenlighted, according to D.J. Jordan, a representative for Aderholt.
Staffers said lawmakers will revisit the bill to add protections for consumers.
Rightradia. This is smart politics. Let some of these bad GOP idea sail through the House and the Senate so Obama can put the hammer down and veto it. This is a sign of things to come.
See the rest of the article at http://www.washingtonpost.com/wp-dyn/content/article/2010/10/07/AR2010100704254.html?hpid=topnews
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Washington Post Staff Writer Thursday, October 7, 2010; 2:34 PM
The bill, named the Interstate Recognition of Notarizations Act, would require courts to accept (document) notarizations made out of state. Its sponsors intended the effort to promote interstate commerce. But homeowner advocates warn the new law could allow lenders to cut even more corners as they seek to evict homeowners.
The courts have stated that the out-of state notarizations are illegal and have thrown foreclosure cases out because of them. In Florida, the GOP legislature passed a bill authorizing special courts using retired judges to expedite foreclosures.
Republicans are bending over backwards to kiss the asses of corporate bankers.
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," which will effectively kill the legislation.
Democratic leaders on the Hill were scrambling to figure out how the bill managed to sail through both chambers of Congress without any objection. The episode may prove embarrassing for Democrats who in recent weeks have been calling for federal investigations into flawed paperwork, forged documents and other kinds of misconduct in foreclosure proceedings initiated by big lenders.
The House passed the bill in April by a voice vote, meaning there's no record of who voted for or against the legislation. The Senate passed the bill on Sept. 27, just before recess, without any debate.
Even the bill's main sponsor, Rep. Robert Aderholt (R-Ala.), was surprised by how quickly the legislation was greenlighted, according to D.J. Jordan, a representative for Aderholt.
Staffers said lawmakers will revisit the bill to add protections for consumers.
Rightradia. This is smart politics. Let some of these bad GOP idea sail through the House and the Senate so Obama can put the hammer down and veto it. This is a sign of things to come.
See the rest of the article at http://www.washingtonpost.com/wp-dyn/content/article/2010/10/07/AR2010100704254.html?hpid=topnews
Subscribe to the Rightardia feed: feeds.feedburner.com/blogspot/IGiu
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