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New York

hrmjustin

(71,265 posts) Mon Jun 24, 2013, 04:40 PM Jun 2013

AG cites ‘pattern’ of bank violations

Staff Business First

National Mortgage Settlement Monitor Joseph A. Smith Jr. released a progress report evaluating the compliance of Ally Financial/GMAC, Bank of America, Citi, JP Morgan Chase and Wells Fargo with the mortgage servicing standards mandated by the National Mortgage Settlement. He made findings against several of the servicers, including finding that Wells Fargo failed to comply with the Servicing Standard governing the timeline for notifying borrowers of deficiencies in applications for mortgage modifications.

Read more at http://www.bizjournals.com/buffalo/blog/buffalo-law-journal/2013/06/ag-cites-pattern-of-bank-violations.html

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