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Released: January 31, 2012
N.C. bank commissioner to oversee foreclosure settlement
Source: Brady Dennis, Washington Post (Free Registration)
North Carolina Bank Commissioner Joseph Smith will serve as a monitor to make sure the nation’s largest banks abide by the terms of a multibillion-dollar settlement over widespread foreclosure abuses, people familiar with the negotiations said. The deal, which could be finalized in a matter of days, would force banks to overhaul their mortgage servicing practices and alter the way they deal with troubled borrowers seeking to stay in their homes.Read Full Article: N.C. bank commissioner to oversee foreclosure settlement
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