Tuesday, March 29, 2011

Loan Lockdown: Could Mediation Leave Servicers' Hands Tied?


Several pieces of servicing-related legislation were introduced in the first month of the 112th U.S. Congress. Among the bills brought to the floor in the Senate was the Limiting Investor and Homeowner Loss in Foreclosure Act of 2010 (S.222), which would amend the Bankruptcy Code and grant courts nationwide the authority to order servicers and borrowers.