Wednesday, March 16, 2011

Probe into Robo-Signing Scandal Finds "No Wrongful Foreclosures"

After the robo-signing scandal that rocked the mortgage servicing world late last year, servicers maintained that even if they had not followed proper procedure when foreclosing on homes, mortgages on all of the foreclosed properties were indeed seriously delinquent. The outrage sparked by the controversy showed that many people simply didn't believe that was the case. But results from the months-long probe into foreclosure documents by the Federal Reserve and other regulators revealed servicers were telling the truth.