Since the Federal Reserve gave more than 4 million homeowners the chance to fight their foreclosures last year, the process put in place to review them hasn't gone as smoothly as planned.
The Independent Foreclosure Review came in the wake of the 2008 robosigning scandal, with 14 big lenders agreeing to grant consumers whose homes were foreclosed a second shot at compensation.
It sounded like the biggest no-brainer in the history of bank screw-ups -- a free, government-sponsored review of foreclosure proceedings, with compensation for homeowners who suffered financial harm. Read Post
Federal banking regulators have called for Independent Foreclosure Reviews to determine if there were mistakes in the foreclosure process for loans in foreclosure during 2009... Read Post
Bank of America routinely denied qualified borrowers a chance to modify their loans to more affordable terms and paid cash bonuses to bank staffers for pushing homeowners into foreclosure, according to affidavits filed last week in ... Read Post