Fed Mortgage Loan Servicing Action Plans

On March 8, the Fed released action plans from HSBC, Ally and IMB HoldCo. to correct alleged deficiencies inresidential mortgage loan servicing and foreclosure processing.  The Fed also released the engagement letter between HSBC and the independent consultant retained to review foreclosures that were in process in 2009 and 2010.  Fed Release.  Action Plans and Engagement Letter.

Published In: Administrative Agency Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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