Helping Homeowners Avoid Foreclosure
More on Helping Homeowners Avoid Foreclosure
Thousands of homeowners will get a pleasant surprise in the mail this summer: checks to (wait for it) compensate them for foreclosure problems they never suffered.
EverBank Financial is prepared to write $1,050 checks to 25,389 of its customers, even though no errors were found in reviews of their foreclosure files, according to a report issued Wednesday by the Office of the Comptroller of the Currency.
When banking regulators decided to end the independent foreclosure review last year, most banks had not completed the examinations of their mortgage modification and foreclosure practices.
Congresswoman Maxine Waters authored the following opinion editorial for The Hill:
Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, introduced the Project Rebuild Act of 2013 on Thursday afternoon. This legislation would provide funding for the rehabilitation of foreclosed and abandoned properties, helping to prevent the deterioration of neighborhoods which leads to plummeting housing prices and lower quality of life for residents.
The top Democrat on the House Financial Services Committee called Tuesday for Congress to "immediately" hold a hearing to investigate a controversial $8.5 billion foreclosure abuse settlement reached this year.
Congresswoman Maxine Waters (CA-35) released the following statement in response to the Federal Housing Administration's annual financial status report issued to Congress today:
But as the California congresswoman prepares to become the top Democrat on the House Financial Services panel, she is engaging in an aggressive outreach effort with some of the very institutions that she has heavily criticized for their role in the financial crisis and recent home foreclosure scandals.
From organizing industry roundtables to one-on-one meetings with Wells Fargo's CEO to holding fundraisers targeting banking donors, Waters is opening the door to big banks and Wall Street.