By: +Jeffrey Lapin
Article review: Big Banks Are Told To Review Their Own Foreclosures (By: Jessica Silver-Greenberg & Bren Protess / The New York Times)
From the article:
"Washington is seeking help from an unlikely group in its effort to distribute billions of dollars to struggling homeowners in foreclosure: the same banks accused of abusing homeowners with shoddy foreclosure practices.
In doing so, the regulators are trying to speed the process after a flawed, independent foreclosure review delayed relief for millions of borrowers, according to people briefed on the matter."
The question arises why were banks not trusted to review their own foreclosures before, hence the whole need for federal review, but they can be trusted now to review their own foreclosures?
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