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I just got a phone call from a source in Washington who is close to the ongoing mortgage industry hearings. My contact told me that Congress is convening to decide the "legality of mortgages" and the future of mortgages in this country.

No details were available, but Congress is in serious discussions to ban all mortgage lending in the United States because of fraud and foreclosure risks.

Congress believes that mortgages pose too much of a threat to our nation's financial markets.

As soon as I get more details, I will let you know.

P.S.  April Fools!

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.