Monday, May 21 , 2018, 3:17 pm | Mostly Cloudy 68º

 
 
 

Hearing Set for Monday to Address State’s Mortgage Crisis

Assemblyman Pedro Nava, D-Santa Barbara, chairman of the Assembly Banking and Finance Committee, will hold a hearing regarding the mortgage crisis in California at 2 p.m. Monday in the California State Capitol, Room 444.

The hearing will focus on the current crisis in the mortgage loan and housing markets and the effects on California families and what action still needs to be taken at the state and federal levels.

“Homeownership is the bedrock of strong communities in California,” Nava said. “The current mortgage and credit crisis are reverberating across all sectors of our state and country in unimaginable ways. It is imperative that we learn from the current crisis so that we can help California families move forward.”

Nava will be joined by representatives from the Federal Reserve Board, the California Department of Financial Institutions, the California Department of Real Estate, the California Department of Corporations, the Greenlining Institute, the California Consumers Union, the Center for Responsible Lending, the Homeowner Rescue Alliance and others.

John Mann is a spokesman for Assemblyman Pedro Nava, D-Santa Barbara.

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