Borrowers Facing Foreclosure Will Be Able to Call for Case Review
September 26, 2011
The 14 mortgage servicing firms hit by the enforcement actions brought by the Federal Reserve and the Office of the Comptroller of the Currency can expect to see soon a new process by which individual borrowers facing foreclosure can request an independent review, outgoing Acting Comptroller of the Currency John Walsh told industry representatives last week. As we explored the best means of ensuring that injured homeowners had the opportunity to seek relief, it became clear that what was needed was a robust, transparent and accessible complaint process that will give borrowers the opportunity to request an independent foreclosure review, Walsh said at a mortgage regulatory forum sponsored by SourceMedia. Im happy to say in the next several weeks youll see the roll out of just such a process.