Ex-Bank Of Rhode Island CEO To Head Foreclosure Talks

Law360, New York (January 6, 2012, 1:46 PM EST) -- A Rhode Island federal judge on Thursday tapped a former bank CEO and longtime Providence lawyer to prod lenders and special servicers to negotiate with hundreds of homeowners facing foreclosure in the state.

Merrill W. Sherman — who headed Bank of Rhode Island until Tuesday, when its $234 million acquisition by Boston-based Brookline Bancorp Inc. closed — will have the authority to force lenders, servicers and other stakeholders to negotiate with troubled homeowners.

U.S. District Judge John J. McConnell Jr. appointed Sherman as special master in...
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