Mortgage Servicers May Face Sanctions, New Rules, Regulator Says
Posted on 1:07 p.m. by Mark Jansen.
Bank of America is one of the companies who is being probed over faulty foreclosures.
John Walsh, Currency’s Acting Comptroller said U.S. banking regulators probing faulty foreclosures are completing remedial requirements and sanctions against mortgage servicers.
The probe on 14 of the largest loan servicers that included Bank of America, Well Fargo & Co., Citigroup Inc. and Ally Financial Inc.’s GMAC unit began last fall. Evidence pointing to banks’ home seizures minus proper and complete documentation led to it.
Mortgage Servicers May Face Sanctions, New Rules, Regulator Says | Financial Feed. Danville Homes-Danville Real Estate-Condos
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