U.S. probes possible overcharging by banks on foreclosure fees

Categorized | STOP FORECLOSURE FRAUD

U.S. probes possible overcharging by banks on foreclosure fees

U.S. probes possible overcharging by banks on foreclosure fees

Where ever these bankstas have their hands, you better bet there is a scam involved!


Reuters-

The U.S. Attorney’s office in Manhattan is investigating at least five banks over whether they overcharged the government for expenses incurred during foreclosures on federally backed home loans, filings and interviews show.

PNC Financial Services Group Inc, PHH Corp, MetLife Inc, Santander Holdings USA Inc and Citizens Financial Group Inc, the U.S. unit of Royal Bank of Scotland, have all disclosed in filings with the Securities and Exchange Commission that they’ve received subpoenas. U.S. Attorney Preet Bharara’s office is seeking information on claims on foreclosed loans insured by the Federal Housing Administration or guaranteed by Fannie Mae and Freddie Mac, according to records reviewed by Reuters.

The subpoenas, coming years after the height of the foreclosure crisis, seek information about banks’ foreclosure-related expenses, which generally include court filings and posting or mailing legal notices.

“You’ve got a lot of people trying to clean up the servicing industry, but the truth is we are seeing the same servicing problems over and over,” said Ira Rheingold, director of the National Association of Consumer Advocates in Washington. “It was built into the model to charge as many fees as they could.”

[REUTERS]

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



Comments

comments

This post was written by:

- who has written 8611 posts on FORECLOSURE FRAUD | by DinSFLA.

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

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com

Archives