Frank seeks strict mortgage rules

Frank seeks strict mortgage rules

House Financial Services Committee chairman Barney Frank plans to unveil a bill to more tightly regulate the way loans are sold to investors.

U.S. Rep. Barney Frank plans to unveil a plan to tighten regulation of the mortgage market.

CAMBRIDGE, Mass (Reuters) — The chairman of a powerful U.S. Congressional committee plans to unveil legislation intended to provide longer-term stability to the U.S. mortgage market by preventing lenders from securitizing the full value of their loans.