ArkansasSports.com Articles
Mortgage Settlement Institutionalizes Foreclosure Fraud
Date: 2012-03-30T08:45:21.537
Author: Yves Smith
Editor note: Yves here. I hope you’ll take the time to read this important post. There has been a great deal of discussion of the many deficiencies of the mortgage settlement, but its biggest has gone pretty much unnoticed. It isn’t just that the settlement gives the banks a close to free pass for past predatory, illegal conduct, but it also has such lax servicing standards and weak enforcement provisions so as to give the banks license to carry on with servicing abuses.
Teaser: Yves here. I hope you’ll take the time to read this important post. There has been a great deal of discussion of the many deficiencies of the mortgage settlement, but its biggest has gone pretty much unnoticed. It isn’t just that the settlement gives the banks a close to free pass for past predatory, illegal conduct, but it also has such lax servicing standards and weak enforcement provisions so as to give the banks license to carry on with servicing abuses.
By Abigail C
Number of Views: 2176
View original artilce: http://www.nakedcapitalism.com/2012/03/abigail-field-mortgage-settlement-institutionalizes-foreclosure-fraud.html
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