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Fed To Fine 8 More Banks Over Foreclosure Violations. servicing and foreclosure processing practices. The Fed also released a Feb. 24 letter. inform more than 4.3 million borrowers whose.

A tidal wave of fraud reports fed. stall foreclosures," Gallagher said. In addition to conning people in the middle of foreclosure filings, criminals made money by "flipping" houses they purchased.

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The Federal Reserve will fine eight more banks that have been subject to scrutiny amid allegations of improper foreclosure practices, adding to the list of the nation’s five largest mortgage.

As Foreclosure Problems Persist, Fed Seeks More Fines .. are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate, or forged documents,

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Institutions with widespread problems may be subject to fines and fees in addition to the costs associated with correcting the errors. Cost associated with foreclosure documentation problems, including "robo-signing" (discussed in more detail later), are not the only potential liabilities facing financial institutions.

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 · Attorneys-general have wide powers to fine companies and reshape business models. servicers over charges of abusive loan and foreclosure practices.. in recent years have led to more.

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