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House Oversight Committee Requests Briefing on Potential Independent Foreclosure Review Process ...
Washington, DC (Jan. 5, 2013 ) - The Chairman and Ranking Member of the House Committee on Oversight and Government Reform, Reps. Darrell E. Issa and Elijah E. Cummings, sent a joint letter yesterday to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry requesting a briefing as the agencies finalize a potential new settlement with 14 major mortgage servicing companies. Recent news accounts report that a potential settlement now under consideration could replace the Independent Foreclosure Review process, which was ordered in 2011 after federal regulatory agencies identified improper actions during loan servicing and processing by mortgage servicers. "In light of these recent press reports suggesting that a settlement may replace the Independent
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