Foreclosure Review Pays Consultant $4 for Each $1 to Homeowners

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Foreclosure Review Pays Consultant $4 for Each $1 to Homeowners

Foreclosure Review Pays Consultant $4 for Each $1 to Homeowners

American Banker-

This is the second part of a story on the Office of the Comptroller of the Currency’s independent foreclosure review program. A close look suggests that the program is taking far longer than originally expected and resulting in much larger payments to consultants than to wronged borrowers.

Consumer groups have been quick to criticize the Office of the Comptroller of the Currency’s independent foreclosure look-back reviews for giving the banks under scrutiny too much say in the process of reviewing their own loans.

A more fundamental issue­—the actual mechanics of the reviews and their results—has received less attention.

[AMERICAN BANKER]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

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One Response to “Foreclosure Review Pays Consultant $4 for Each $1 to Homeowners”

  1. sarah says:

    Designing things to fail requires good paying jobs for the consultants.

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