Details

Service: Advisory, Risk Consulting, Financial Risk Management
Industry: Banking & Capital Markets
Type: Publication series
Date: 3/13/2012

Regulatory Practice Letter #12-06

Mortgage Loan Servicing and Foreclosure Settlement Agreement; Servicing Standards Imposed

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The Department of Justice ("DOJ"), the Department of Housing and Urban Development ("HUD"), the Conference of State Bank Supervisors and 49 State Attorneys General ("AGs") recently announced they had jointly reached an agreement (the "Settlement Agreement") with the five largest mortgage servicers to address issues associated with mortgage loan servicing and foreclosures identified by investigations conducted at the Federal and State levels and, in part, previously subject to formal (Federal) enforcement actions taken in April 2011.

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