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Administration Keeps Pretending Mortgage Servicing Has Been Fixed

It sometimes feels like a Sisyphean task to keep discussing how Americans were thrown under the bus in the various mortgage settlements reached in 2011 and 2012. The mortgage-industrial complex was deemed too big to fail and as a result, malfeasance and fraud were deemed to be mere “errors”, offensively low damages were paid, and the banks were told to adhere to current law, with a few new requirements thrown in (single point of contact, ending dual tracking, and processing modifications in a timely manner).

via Administration Keeps Pretending Mortgage Servicing Has Been Fixed, Whistleblowers Say Otherwise « naked capitalism.

 

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