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Foreclosure Updates

This might be of interest to those who work with clients dealing with foreclosure concerns, including those who work with affected military service members and their families. A few articles about significant developments that have occurred over the last several months:

Wall Street Journal – Banks Face $17 Billion in Suits Over Foreclosures
Bloomberg – JPMorgan Settles Military Mortgage Suits for $56 Million
Military Times – Banks must take second look at foreclosures
Military Times – Feds investigate banks after SCRA complaints
Federal Deposit Insurance Corporation (FDIC) – Supervisory Insights Special Foreclosure Edition: Regulatory Actions Related to Foreclosure Activities by Large Servicers and Practical Implications for Community Banks

Jerry Buchko

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  1. by Jerry Buchko

    On May 27, 2011 at 8:50 am

    This news about major mortgage lenders settling DOJ lawsuits for SCRA violations just released. Brief guidance and some resources are shared at the end of the article.

    * US Department of Justice – Justice Department Settles with Bank of America and Saxon Mortgage for Illegally Foreclosing on Servicemembers: http://www.justice.gov/opa/pr/2011/May/11-crt-683.html

    ~ Jerry

    Jerry Buchko, MA AFC | Financial Counselor, Personal Finance Coach & Tutor | i: http://www.linkedin.com/in/jerrybuchko | e: jerry.buchko@gmail.com | t: @jerrybuchko

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