Here’s why the FHFA is not a fan of principal reduction

Before you judge Dodd-Frank...

Urban Institute: "Can we really calculate the cost?"

Goldman Sachs: When will our kids move out?

Nearly half of California millennials still with parents
W S
Servicing / The Ticker

Connecticut governor wants bank mediators to possess settlement power

/ Print / Reprints /
| Share More
/ Text Size+

The (Connecticut) governor on Wednesday said too often bank mediators don't have the authority to make a deal when they negotiate with homeowners during a court-supervised foreclosure procedure. Banks also send different mediators to meetings, needlessly prolonging the process, the governor said.

For this reason, Connecticut's governor and attorney general proposed a bill that would force banks to send only mediators with the power to enter into foreclosure settlements to the bargaining table with distressed borrowers, according to the ctpost.

 

Source: ctpost.com
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus