Banks’ $8.5 Billion Deal Kills Reviews That Never Saw Results

Jesse Hamilton, Bloomberg A foreclosure-review system that failed to compensate mistreated borrowers has been mostly scrapped in an $8.5 billion agreement with the largest U.S. mortgage servicers. U.S. regulators’ deal yesterday with 10 mortgage servicers replaces an almost two-year, case-by-case review of flawed foreclosures. The Independent Foreclosure Review process — agreed to by 14 servicers in […]