Frank And Dodd Side with Mortgage Investors

In the battle to stem foreclosures, two left-leaning policymakers have formed an unlikely alliance with mortgage investors.

In a letter sent Friday afternoon to regulators including Treasury Secretary Timothy Geithner, Federal Deposit Insurance Head Sheila Bair and Federal Reserve Chairman Ben Bernanke, Sen. Christopher Dodd (D-Conn.) and Congressman Barney Frank (D-Mass.) echoed claims made by mortgage investors that the banks who service these debts are blocking efforts to aid borrowers through the government’s Hope for Homeowners refinancing effort in order to preserve their massive portfolio of second mortgages and home equity loans. Read more about mortgage investors…