Washington turns up heat on banks to bring down mortgage payments


They've been summoned.

The big banks and mortgage lenders that hold the key to loan modifications have been summoned to Washington for what is supposed to be some heavy duty arm twisting to get them to put pedal to the metal and bring down mortgage payments at a much faster rate.

Among the institutions ordered to D.C., are Bank of America and Citigroup.

But there have been many attempts to get the banks to stop their foot dragging and nothing has really seemed to work.