As Foreclosure Problems Persist, Fed Seeks More Fines

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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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The Federal Reserve on Friday announced fresh penalties against five banks as it terminated enforcement action against 10 big banks due to foreclosure violations. The Fed announced fines of $35.1.

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,

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.

When despite your best efforts the problems persist, you may want to consider bankruptcy as an option to obtain legal protections, peace of mind, and structure as it relates to your indebtedness. Our board-certified Raleigh bankruptcy attorneys have helped thousands of North Carolina residents and business owners navigate this situation.