Mr. Stern Goes to WashingtonBy
Scott Stern runs St. Louis-based Lenders One, which provides services to 110 mortgage banking firms. On Thursday he testified before the Senate Banking Committee on what he calls Scott Stern’s first law of economics. That is: To stem the fall in housing prices, the country must address the foreclosure problem. Keep borrowers in the homes, less housing inventory comes on the market and prices stay up.
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