Attorney General John Kroger Proposes Mortgage Settlement in Oregon

Attorney General John Kroger is proposing to extend rules from a nation-wide mortgage settlement to Oregon.

The changes include tightening documentation standards, as well as new protections to borrowers facing foreclosure.

The settlement is between five of the largest mortgage banks:

Bank of America, JPMorgan Chase, Wells Fargo, Citi-Bank and Ally Financial.

A public hearing on the proposal is scheduled for Thursday morning in Portland.

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