Cummings Backs Obama With Mortgage Fraud Investigation

Susan Crabtree | February 25, 2011, 4:59PM

Rep. Elijah E. Cummings (D-MD), the ranking member of the House Committee on Oversight and Government Reform, is backing President Obama's hard line on mortgage abuses with his own wide-ranging investigation into foreclosure fraud.

Obama has been trying to broker a deal that would have the nation's largest mortgage lenders agree to cough up as much as $30 billion in fines to settle state and federal claims they abused borrowers and illegally foreclosed on homes, according to media reports citing state and federal officials engaged in the discussions.