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Loan Modification

: Loan Modification & Home Loan News

Big Banks Face Fines on Role of Servicers

By Moe Bedard

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(Source: Wall Street Journal) – A review of mortgage-servicing practices by U.S. regulators found serious problems with internal controls and staffing levels at the companies, which are likely to result in formal enforcement action against more than a dozen major financial institutions, according to people familiar with the situation. The penalties against Bank of America [...]

Full post as published by Loan Modification & Home Loan News on February 17, 2011 (boomark / email).

Lawsuits and Settlements

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to Pay $585 Million in Price-Fixing Fines

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alleging that users were sent erroneous fines

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