Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Waters Requests More Details From Regulators On IFR's End
WASHINGTON (2/20/13)--Rep. Maxine Waters, the top Democrat of the House Financial Services Committee, continues to press bank regulators for details about their termination of the Independent Foreclosure Review (IFR).

Waters released a letter Tuesday to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry seeking additional information from the regulators about the termination of the IFR. It is a follow up to an inquiry earlier this month.

Also, earlier this month Waters (D-Calif.), who has been an advocate for foreclosure prevention, asked Chairman Jeb Hensarling (R-Texas) of House Financial Services for a hearing into a Jan. 7 tentative $9.3 billion settlement between the Fed and OCC and mortgage servicing companies which Waters said is intended to resolve claims of wrongdoing by the servicers against an estimated 4.4 million borrowers.  It effectively ended the IFR.

Information requested by Waters includes: Policies and Procedures documents created by independent consultants outlining how loan files were to be reviewed by analysts; information on error rates of reviewed loan files; guidelines issued by the regulators to independent consultants relating to the foreclosure notice process; and other pertinent information.


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
14 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
16 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
17 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
18 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
19 hours ago