The head of the Mortgage Bankers Association (MBA) delivered a strong defense of the industry Monday, saying the number of loans called into question by the recent foreclosure documentation scandal is "a very small minority" of the 2.3 million mortgages currently in foreclosure.

"We do need to fix the documents; we do need to fix the processes and procedures," said John Courson, president and chief executive of the MBA at the start of the organization's annual meeting in Atlanta.

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