The Federal Housing Administration is on the brink of the next big government bailout. Potentially. Yet Commissioner Carol Galante insists there is strength ahead.
3.8 million borrowers to share in foreclosure settlement
1/11/13 2:09pm
Because they have no idea how many borrowers were harmed, the regulators are spreading the cash payments over all 3.8 million borrowers — whether there was evidence of harm or not. As a result, many victims of foreclosure abuses like bungledloan modifications, deficient paperwork, excessive fees and wrongful evictions will most likely get less money.
source » The New York Times byline » Jessica Silver-Greenberg
