The Senate Committee on Banking, Housing and Urban Affairs held hearings Thursday on foreclosure prevention. A basic mortgage that would be offered to everyone unless they choose to opt-out and a basic mortgage disclosure form that would be provided to all borrowers were among the proposals presented. Some speakers went back to federal programs initiated in the 1970s and even the 1930s, drawing on these past efforts to deal with housing finance crises to suggest similar undertakings today, according to transcripts of prepared statements released by the Mortgage Bankers Association.
More... 
