We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

GAO Slams Regulators Over Foreclosure Review Notices

Law360, Los Angeles (July 5, 2012, 6:34 PM EDT) -- Efforts by the Federal Reserve and the Office of the Comptroller of the Currency to notify consumers about a program requiring 14 residential mortgage servicers to offer remediation to foreclosed homeowners have fallen short, according to a U.S. Government Accountability Office report released Thursday.

In the report, the government watchdog agency recommended improvements to mailings, a website and other materials notifying borrowers about government consent orders requiring Bank of America Corp., Citibank NA, JPMorgan Chase & Co. and other mortgage servicers to assist borrowers who were...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.