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Friday, July 10, 2009
Law - "For now, progress is constrained by the limited capacities of mortgage servicing companies"
You will find that quote in this June 29th ILB entry headed "Paper Avalanche Buries Plan to Stem Foreclosures."
Today Paul Kiel of ProPublica has an article headed "Obama Admin to Mortgage Servicers: Do More (Please)." A quote:
The administration has been increasingly outspoken about its own frustration with servicers , and on Thursday, according to the Washington Post and The Wall Street Journal, Treasury Secretary Timothy Geithner and HUD Secretary Shaun Donovan took that frustration one step further with a letter to the servicers participating in the program.It includes a link to a letter to the servicers participating in the program.Particularly if you are doing foreclosure work, check the article for links to the letter and other materials.
[More] A second Pro Publica entry reports: "Among those not participating are three of the 10 largest servicers in the country and the second-biggest servicer of subprime loans."
Posted by Marcia Oddi on July 10, 2009 11:00 AM
Posted to General Law Related