Even After Mortgage Deal, Dual Tracking Continues, Report Says

Law360, New York (October 3, 2012, 5:14 PM EDT) -- Despite a Wednesday deadline for implementing new mortgage servicing practices mandated by a $25 billion national settlement, the nation’s five largest mortgage servicers were still carrying out the dual-track foreclosures curtailed by the settlement on California homeowners, a report said Tuesday.

The report issued by University of California-Irvine law professor Katherine Porter, whom California Attorney General Kamala Harris appointed to monitor the mortgage servicers’ compliance with the settlement, said more than 15 percent of the nearly 1,500 complaints the monitor received from California homeowners between April...
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