Reg Order May Give Banks the Upper Hand

Hopkins, Cheyenne
July 2011
Mortgage Servicing News;Jul2011, Vol. 15 Issue 7, p33
The article reports on the release of a consent order against the top 14 mortgage servicers which may likely help banks in their negotiation with attorneys general (AGs) in various states and several federal agencies in the U.S. It states that banks will gain advantage and control of this move since they can argue that crucial issues which the AGs wish to resolve are already addressed by the banking agencies. It also mentions the oppositions of several AGs regarding this enforcement action.


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