Philadelphia

PA Official Pushes for Mortgage Reform; Cites ‘Abusive’ Lending 

Acting Pennsylvania state Banking Secretary Victoria A. Reider on Friday urged swift action by state legislators to stop what she called “abusive lending practices” and blamed for many foreclosures. “The Banking Department has made great strides over the past few years but Pennsylvania’s foreclosure rate remains above the national average,” Reider said during a Pennsyvania House Commerce Committee hearing. “More needs to be done. I look forward to working closely with the legislature to protect our homeowners from abusive lending practices.” The committee is planning two more hearings, in the Poconos and Philadelphia, on abusive lending and mortgage foreclosures.