Foreclosure, Federal Regulator | featured news

(Image from article: "Banks to be penalized for mishandling foreclosures, a regulator testifies")

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Mortgage Industry To Face Massive Changes Under Regulators' Plan; Homeowners, Investors Better Protected

Federal regulators and the top law enforcement officers in all fifty states are eyeing big changes to the dysfunctional home loan industry. If these officials have their way, borrowers who take out home loans and the investors who buy them will work closer together and find common ground to minimize foreclosures, while the middle men who are supposed to be performing that job will see their power diminished.

Banks to be penalized for mishandling foreclosures, a regulator testifies

Major U.S. banks are about to get penalized for "critical deficiencies" and shortcomings in how they handled foreclosures, a top federal regulator said Thursday at a Senate Banking Committee hearing examining the Dodd-Frank Act six months after its congressional approval.

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