Back in April 2011, in the wake of the robosigning scandal and in light of numerous instances of erroneous seizures, the Office of the Comptroller of the Currency and the Federal Reserve System ordered independent reviews of the foreclosure process at the country’s 14 largest mortgage servicers. Now, two years on, the Govt. Accountability Office is saying these regulators allowed the review process to become inconsistent and overly complex. [More]
GAO Calls Out Bank Regulators For Mucking Up Foreclosure Reviews
By April 4, 2013
Report: Foreclosure Review Process Puts The Burden On The Borrower
By November 4, 2011
As we reported earlier this week, upwards of 4.5 million foreclosed-upon homeowners are now eligible to have their case reviewed by an independent consultant. But as details of this review process trickle out, some are concerned that the scales might be unfairly balanced in favor of the lender. [More]
