The fact that real estate law remains fundamentally local in nature fuels a dynamic that prevents a timely and cost-effective resolution to the nation’s foreclosure crisis: a nearly overwhelming deluge of state and local laws, rules and regulations. That’s one of the take-aways in the testimony that Alfred Pollard, general counsel of the Federal Housing Finance Agency, provided early this week before the House Committee on Oversight and Government Reform. “State and local officials have been very active in adding to or amending laws related to foreclosures or servicing of mortgages,” Pollard said...