Posts tagged "Sen. Kent Conrad (D-N.D.)"

Sens. Boxer and Isakson call for mortgage disclosure

Posted by LegiStorm on Monday, August 10, 2009

Two prominent members of the Senate Ethics Committee have introduced legislation that would require members of Congress to fully disclose all residential mortgages on personal financial disclosures. Currently, mortgages on personal residences are exempt from reporting requirements.

Sen. Barbara Boxer (D-Calif.), the committee chair, and Sen. Johnny Isakson (R-Ga.), the vice-chair, crafted the legislation requiring a "full and complete" disclosure of mortgages. This would include the date the mortgage was entered, the range of the amount, the interest rate, the term, and the name and address of the creditor.

The senators announcement last week came as ethics complaints were dismissed against Sens. Chris Dodd (D-Conn.) and Kent Conrad (D-N.D.). The complaints alleged the senators received improper discounts on mortgages from Countrywide.

posted in mortgages, personal financial disclosures, Sen. Barbara Boxer (D-Calif.), Sen. Chris Dodd (D-Conn.), Sen. Kent Conrad (D-N.D.), Sen. Johnny Isakson (R-Ga.)
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Financial disclosures shed light on mortgage mess

Posted by LegiStorm on Wednesday, June 25, 2008

We at LegiStorm were fascinated to read a story in Politico this week which polled the offices of all senators to find out where they got their mortgages, especially by the answer of the former head of the Senate banking committee, Sen. Richard Shelby (R-Ala.).

The Politico survey comes after documents reveal that two senators, Chris Dodd (D-Conn.) and Kent Conrad (D-N.D.), received preferential treatment on their mortgages from Countrywide after requesting help from the head of the company. So Politico surveyed senators to find out how others received their mortgages. So far, 15 senators have not bothered to answer the poll.

But we were particularly intrigued by the response of Shelby, who headed the Senate Banking, House and Urban Affairs Committee and is still its ranking member. According to Politico, Shelby responded that he has no mortgages on his two homes. In fact, LegiStorm's data indicates that Shelby has a $1-$5 million mortgage with Wells Fargo Bank.

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posted in personal financial disclosures, mortgages, Sen. Richard Shelby (R-Ala.), Sen. Chris Dodd (D-Conn.), Sen. Kent Conrad (D-N.D.)
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