Friday, May 6, 2011

GAO Mortgage Foreclosures Report

The Government Accountability Office (GAO) has released a report urging the new Consumer Financial Protection Bureau to make mortgage servicing standards a priority.

FDIC, Federal Reserve, Office of the Comptroller of the Currency, and Office of Thrift Supervision, which culminated in enforcement actions against the nation’s 14 largest mortgages servicers and two third-party vendors, with monetary penalties still pending.