Earlier this year, bankrupt mortgage firm ResCap remained the only hold out when major servicers agreed to end a long independent foreclosure review process and replace it with a one-time settlement that compensates homeowners who faced foreclosures in 2009 and 2010.

This past week, ResCap, and subsidiary GMAC Mortgage, filed a sheet with a court to set up a $230 million escrow fund as part of an initiative to end its own independent foreclosure review process, Forbes reports.  

The publication says PricewaterhouseCoopers, which was retained to handle the reviews, has stopped all work associated with the reviews.

Most Popular Articles

Fannie Mae, Freddie Mac watchdog prepping for "massive IPO"

The watchdog for Fannie Mae and Freddie Mac is interviewing Wall Street firms to handle a public offering that would dwarf any IPO in history, Fox says.

Dec 09, 2019 By

Latest Articles

Here are the cities where iBuyers are taking hold

With companies like Opendoor, Zillow and Redfin, homebuyers and sellers were no longer limited to the traditional method when they decided to buy and sell their homes. But just how much of an impact are those iBuyers having on the market itself?

Dec 11, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please