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Loan Modification
: Mortgage Lender Implode-o-MeterForeclosure Settlement Terms Sent to Banks by U.S. State, Federal Agencies
By Implode-Explode Heavy Industries
Federal agencies and state attorneys general submitted to banks a proposal for resolving an investigation of foreclosure practices and mortgage servicing while continuing to talk about monetary penalties they will seek.
The 27-page document given March 3 to mortgage-servicers seeks ?a binding legal requirement? for how they service loans and conduct home foreclosures, Geoff Greenwood, a spokesman for Iowa Attorney General Tom Miller, said yesterday in a telephone interview.
Full post as published by Mortgage Lender Implode-o-Meter on March 06, 2011 (boomark / email).
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