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All Posts Tagged Tag: ‘Bank of Amercia’

Enforcement of 304 Servicing Standards and Guidelines

Fraudclosure

Lenders Face Large Fines over Servicing Standards More than a year after the nation’s five-largest mortgage servicers signed a $26 billion legal settlement with 49 state attorneys general and the US Department of Housing and Urban Development over blatantly improper foreclosure procedures, those banks still need to do better.¬† That is the conclusion of the National Mortgage Settlement’s monitor, former …

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If you are looking REO’s, Hold your Breath!

Occ

Wells Fargo and Citigroup¬†have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency. The abrupt slowdown came in response to the OCC’s April release of minimum standards for foreclosure sales, which are usually the final act in the foreclosure process. Within two weeks …

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