{"id":3597,"date":"2012-09-10T15:38:27","date_gmt":"2012-09-10T15:38:27","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=3597"},"modified":"2012-09-10T15:38:27","modified_gmt":"2012-09-10T15:38:27","slug":"smaller-banks-now-under-fire-for-foreclosure-abuses","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/smaller-banks-now-under-fire-for-foreclosure-abuses\/","title":{"rendered":"Smaller Banks Now Under Fire for Foreclosure Abuses"},"content":{"rendered":"

Smaller Banks Now Under Fire for Foreclosure Abuses.<\/h2>\n
\"Smaller<\/a>

Smaller Banks Now Under Fire for Foreclosure Abuses<\/p><\/div>\n

After a landmark mortgage settlement against the nation\u2019s largest banks earlier this year, the U.S. state attorneys general are now investigating smaller banks<\/strong> for alleged foreclosure mishandlings.<\/p>\n

The U.S. state attorneys general are reportedly targeting U.S. Bancorp, PNC Financial Services Group Inc., SunTrust Banks Inc., and HSBC Holdings Plc.<\/p>\n

The banks have yet to speak publicly about the investigation or any potential settlement talks. But several of the smaller banks<\/em> have reportedly set aside millions of dollars in reserves in case a settlement is reached.<\/p>\n

\u201cIf a settlement were reached it would likely include an agreement by the\u00a0smaller banks<\/span> to comply with specified servicing standards, and settlement payments to governmental authorities as well as a monetary commitment that could be satisfied under various loan modification programs,\u201d according to a filing by U.S. Bancorp.<\/p>\n

Earlier this year, state attorneys general and federal officials reached a landmark $25 billion settlement with the nation\u2019s five largest banks over foreclosure mishandling. The banks involved in the settlement were JPMorgan Chase, Citigroup, Wells Fargo, Bank of America, and Ally Financial Inc. As part of the settlement, the banks were required to provide aid\u2014in the form of debt forgiveness, loan modifications, forbearances, or short sales\u2014to struggling home owners as well as compensate home owners who had wrongfully lost their homes to foreclosure.<\/p>\n

Source: \u201cFour Regional Banks Discuss Settlement Over Foreclosures<\/a>,\u201d Bloomberg-Businessweek <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Smaller Banks Now Under Fire for Foreclosure Abuses. After a landmark mortgage settlement against the nation\u2019s largest banks earlier this year, the U.S. state attorneys general are now investigating smaller banks for alleged foreclosure mishandlings. The U.S. state attorneys general are reportedly targeting U.S. Bancorp, PNC Financial Services Group Inc., SunTrust Banks Inc., and HSBC … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-3597","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nSmaller Banks Now Under Fire for Foreclosure Abuses - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"Smaller Banks Now Under Fire for Foreclosure Abuses. 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