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.