American News Project takes us into the annual meeting of the Mortgage Bankers Association (MBA) where industry lobbyist were gearing up to oppose legislation which would have allowed bankruptcy judges to modify loan terms for struggling homeowners. The “cram-down” amendment, as the MBA derisively referred to it, was defeated for the third time in two years in a Senate vote. Both National Community Reinvestment Coalition President John Taylor and David Kittle, the chairman of the MBA, acknowledge that the bill will be back. The question is who will win in the next round: the MBA’s political action committee or, as Mark Gimein wrote, the “people trying to keep a roof over their heads.”

—Corbin Hiar

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