NY Fed probing Goldman Sachs mortgage servicing unit Litton Loan Servicing

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NY Fed probing Goldman Sachs mortgage servicing unit Litton Loan Servicing

NY Fed probing Goldman Sachs mortgage servicing unit Litton Loan Servicing

REUTERS

The Federal Reserve Bank of New York is investigating whether Goldman Sachs’ (GS.N) mortgage servicing arm did not conduct proper reviews before denying borrowers the option to lower their payments under a government loan modification programme.

In its quarterly filing with the SEC earlier this month, Goldman said regulators had sought information on the foreclosure and servicing protocols and activities of its mortgage servicing unit Litton Loan Servicing.

“We are in possession of the letter and are conducting an inquiry,” a NY Fed spokesperson told Reuters, referring to a letter from a Litton employee sent to the NY Fed by the Financial Times. A spokesperson for Goldman Sachs declined to comment when contacted by Reuters.


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One Response to “NY Fed probing Goldman Sachs mortgage servicing unit Litton Loan Servicing”

  1. dpreston says:

    All we need to see is the hamp guidelines and the servicing contract. Them it should b very simple for all the simpletons to finally solve. Watching this is like a real like freak show. Now here comes tthe feds to investigate their own? Yeah right like they r going to do a thing. This is a real life freak show. After watching this fiasco for over 2 years I am so appalled at the selective ignorance of all of the players. The banks have intentionally deceived the American people continuously and it is now unacceptable and needs to be addressed NOW and STOPPED NOW. When are these fulers going to jail? When?????? Debi. 5613899339

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