Strong Enforcement Mechanism | National Mortgage Settlement
Tweet The success of a number of well-intentioned programs has been stalled by voluntary servicer participation and a lack of compliance oversight. The five national banks party to the settlement will be required to report compliance to an independent, outside monitor that reports to state attorneys general on a regular basis. State attorneys general and...
- April 13 Friday, 2012
- By Administrator
- In Foreclosure
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The success of a number of well-intentioned programs has been stalled by voluntary servicer participation and a lack of compliance oversight. The five national banks party to the settlement will be required to report compliance to an independent, outside monitor that reports to state attorneys general on a regular basis. State attorneys general and the U.S. Department of Justice can seek redress if the banks fail to follow the terms of the settlement.
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