The Federal Reserve, Office of Comptroller of the Currency (OCC), FDIC, and Office of Thrift Supervision (OTC) have issued formal enforcement actions against 14 banking and two loan servicing related organizations which they found had demonstrated a "pattern of misconduct and negligence related to deficient...
Posted to
MND NewsWire
by
Jann Swanson
on
Wed, Apr 13 2011
Filed under:
Filed under: Federal Reserve, FDIC, OCC, foreclosure, loss mitigation, FHFA, metlife, Loan Servicer, LPS, MERS, STAR, Servicer Total Achievement and Rewards, State Attorneys, Servicer Settlment, Loan Servicer Reform, Servicer Compensation, U.S. Bancorp, HSBC North America Holdings, SunTrust Banks, Aurora Bank, EverBank, JPMorgan Chase & Co., Wells Fargo & Company, Ally Financial Inc., Sovereign Bank, Citigroup Inc., OneWest Bank, The PNC Financial Services Group, Inc., Bank of America Corporation
The six big agencies that regulate most of the nation's banking system issued "guidance" Tuesday encouraging mortgage servicers to work with borrowers to mitigate loan losses and keep families in their homes where "possible and appropriate." The Federal Deposit Insurance Corporation, Board of Governors...