Senator Mark Warner today urged the President to create an independent, nonpartisan task force to examine problems surrounding the mortgage foreclosure process. The task force would be asked to make timely recommendations to Congress and the Administration on potential steps that could provide more clarity and consistency for state and federal regulators, lenders, mortgage loan servicers and homeowners. Senator Warner’s letter, sent to the White House today, suggests moving quickly to establish the task force so that it can provide policy recommendations as soon as mid-December.

“This nonpartisan task force would look beyond the current, very specific issues surrounding foreclosure practices employed by many mortgage servicers and lenders, and would focus instead on broader policy concerns and potential improvements to the overall foreclosure process as we move forward,” Senator Warner said.

The full text of the letter follows: