Banks Must Pay Victims of Botched Foreclosures, Regulators Say (Why aren't Courts ordering this?)

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Banks Must Pay Victims of Botched Foreclosures, Regulators Say (Why aren’t Courts ordering this?)

Banks Must Pay Victims of Botched Foreclosures, Regulators Say (Why aren’t Courts ordering this?)

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The 14 largest U.S. mortgage servicers must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse, according to a consent decree released today.

The agreement between the servicers and U.S. regulators imposes more substantial penalties than early reports of the deal indicated. It could also help the U.S. Justice Department determine the size and scope of any future fines for the flawed practices, regulators said.

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2 Responses to “Banks Must Pay Victims of Botched Foreclosures, Regulators Say (Why aren’t Courts ordering this?)”

  1. Robert says:

    How do I find out if my file was handled correctly?

  2. angry_n_NOTTAKINIT says:

    robert–if you had a foreclosure.. use the same mentality the fed & the alphabet soup boobs use- from the report –
    “the review of servicers show Servicers generally had “sufficient documentation” “manufactured” to foreclose, the agencies reported in their review found the servicers lapses in foreclosure procedures, we [homeowners] are now questioning their practice of unwarranted fees to manufacture defaults / robo signed perjury /unjust enrichment.

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