Banks To Face Millions Of Foreclosure Reviews

October 6, 2011 by


foreclosure reviews

An estimated 4.5 million foreclosure cases are set to be reviewed involving both current and former homeowners, with banks set to pay compensation to anyone who is found to have been wronged. Eligibility for the foreclosure reviews – which will be executed as part of a new mandate federal regulators have to the country’s banks [...]

Deadline Extended For Banks To Revamp Foreclosure Practices

June 15, 2011 by


federal regulators give banks extra 30 days to plan foreclosure procedures

Federal regulators have given the nation’s 16 leading mortgage lenders another month to work out how they are going to tackle the widely publicized problems they are facing with loan modification and foreclosure procedures. Mortgage lenders and servicers were initially given a 45-day deadline by federal regulators to come up with their plans – a [...]