Advocates Demand Transparency, Guarantees that Pending $10b Foreclosure Settlement Will be Used Aggressively To Help The Hardest Hit, Particularly Communities of Color

Advocates Demand Transparency, Guarantees that Pending $10 Billion Foreclosure Settlement

Posted by Nish Suvarnakar 471.60pc on December 31, 2012 · Flag

CFS Demand $10 Billion Foreclosure Settlement Will be Used Aggressively To Help The Hardest Hit, Particularly Communities of Color

The Campaign for a Fair Settlement, the leading watchdog group monitoring the $25b robo-signing settlement between the states and the banks and pressing for policies to help homeowners, reacted today to news of the $10b pending settlement between (14) banks and the Office of the Comptroller for the Currency, urging the OCC to ensure that any agreement helps those hardest hit by the crisis.

"Replacing the stunningly ineffective Independent Foreclosure Review with a deal that requires specific amounts of relief in the form of principal reduction and relief to borrowers who were foreclosed on is long-overdue," said Brian Kettenring, Coordinator of the Campaign for a Fair Settlement. "The IFR process wasn't benefiting anyone except a few overpaid bank consultants." Read More

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Millie Garner commented 2012-12-31 23:08:41 -0500 · Flag

You are monitoring the robo-signing settlement? Please post how many violations each state AG office has reported to the national monitor.

Campaign for a Fair Settlement

The Campaign for a Fair Settlement seeks to create a more just U.S. economy by building public support for a fair settlement between Wall Street banks, the AGs, and the fed. government on the issues of mortgage crisis

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