SUZANNE
COLDWELL BANKER
THE AREA
TESTIMONIALS
BUYERS INFO
SELLERS INFO
MARKETING INFO
SERVICES
MORTGAGE CALCULATOR
REQUEST INFO FORM
REQUEST PRICE COMPARISON
GET PREQUALIFIED
CONTACT SUZANNE
About Featured Listings Homes, Land, Condos Best Buys Real Estate Blog Buyers/Sellers Info Contact Information Return to Home Page


Bringing Beautiful Mammoth and Eastern Sierra Properties to You      
 
 
 
 
 
Real Estate Blog
   
 

Jul 15 2011

Banks to be put on the spot for military foreclosures

Posted by Suzanne Baker at 1:07 PM

A federal oversight committee led by U.S. Rep. Darrell Issa will request documents from the country's largest mortgage-servicing companies in its probe of foreclosure abuses against U.S. servicemembers, committee officials said Thursday.

The announcement comes two days after Ranking Member Elijah E. Cummings, a Democratic congressman from Maryland, released a report about the increasing presence of illegal foreclosures on members of the military.

Issa, a Republican from Vista, agreed to send document requests to banks on behalf of the committee, following Thursday’s oversight committee hearing. The government group was formed this year to be a watchdog.

Issa spokesman Frederick Hill said the items to be requested will "be determined" after more research is done by looking at findings from the U.S. Senate Committee on Banking, Housing, and Urban Affair, and Committee on Veterans Affairs.

Meanwhile, Democratic officials of the oversight committee said in a release that the request will cover unredacted records from Jan. 1, 2006, to the present covering documents that relate to:

--Internal investigations, audits and reviews conducted by the banks on foreclosure policies, procedures and practices involving U.S. servicemembers or the Servicemembers Civil Relief Act.

--The banks sending foreclosure notices to active duty U.S. servicemembers.

--Instances in which your organization charged improper fees or interest rates to active duty U.S. servicemembers.

Hill, with Issa's office, said the agreement between Issa and Cummings was "not content-specific" and will be decided on later.

     
   
 
Coldwell Banker Mammoth Real Estate

© Suzanne Baker, Coldwell Banker Mammoth Real Estate. All rights reserved.
Site design & development by TJS Media. © Coldwell Banker Real Estate LLC. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity . Each Office Is Independently Owned And Operated.
Terms of Use
Privacy Policy