Money Pit: Complying With Federal Foreclosure Order

Berry, Kate
December 2011
Mortgage Servicing News;Dec2011, Vol. 15 Issue 12, p31
The article reports on the implication of the foreclosure review process mandated by a federal consent order by the Office of the Comptroller of the Currency and the Federal Reserve on banks and mortgage servicers in the U.S. in April 2011. It is inferred that the mandate orders companies to review foreclosure cases for errors, misrepresentations, and other deficiencies. The issue of the costs banks will likely to spend in conforming with the consent order is investigated.


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