The Homeowners Protection Act Of 1997 S 318

Hearing on private mortgage insurance and the abusive practice of charging homeowners for coverage they no longer need. Unnecessary burdens can be continued, in some cases for years, after there is any reasonable need for this insurance to exist. In some cases, homeowners will pay as much as $1,200 a year. Witnesses include Rep. James V. Hansen; Counsel for Government Affairs, Consumers Union; National Association of Realtors; the Appraisal Institute; Mortgage Insurance Companies of Amer.; Mortgage Bankers Assoc. of Amer.; America's Community Bankers; Navy Federal Credit Union.