Wednesday, May 23, 2012
Signs of foreclosure paperwork problems were missed, FDIC chief says
Chairwoman Sheila Bair says shifts such as a significant drop in mortgage service fees should have raised questions. The admission comes as federal banking agencies conduct an investigation.
Regulators should have foreseen a wave of suspect foreclosure paperwork coming, a key official admitted Monday as federal banking agencies said they had launched their own in-depth review of the issue.
Read the original post on L.A. Times – Real Estate News
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