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Non-Compliance by Major Banks Detected After Settlement Agreement

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  • William Matz | | 05 Oct 2012, 02:53 PM Agree 0
    Non-compliance, especially dual-tracking continues to be a huge problem. One of my clients was in a mod facing a sale date two days later before B of A finally postponed the sale. I have seen that at least half a dozen times just in the last two months. So I am sure there are way more than 224 violations in CA, probably tens of thousands. Unfortunately, the irresponsible condcut by the banks often forces borrowers to take otherwise unnecessary action, such as filing suit or bankruptcy when the lender is not responsive. The problem will grow next year when similar provisions will apply to all lenders under CA law. Any borrower experiencin these violations should be reporting them to the CFPB and the CA A.G.
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