LA Times: Despite Judge Meenu Sasser’s Vehement Protestations Otherwise, Foreclosure “Paperwork” Problems are Widespread ~ US Treasury Official
Aug 3, 2010 … “I haven’t seen any widespread problem,” Sasser said.
The same Judge Meenu Sasser who’s office was found to have been engaging in improper …
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Review of foreclosure paperwork process finds ‘widespread’ and ‘inexcusable’ breakdowns, Treasury official says
An ongoing review by government regulators of foreclosure paperwork problems has found “widespread and, in our judgment, inexcusable breakdowns” in the process for seizing homes of delinquent borrowers, a top Treasury Department official said Tuesday.
“These problems must be fixed,” said Michael Barr, assistant secretary for financial institutions.
They can not be “fixed.”
But the sweeping review of the foreclosure process won’t be completed until the end of the year, and a formal report based on that review won’t be finished until late January, Barr told members of the Financial Stability Oversight Council.
The newly formed council brings together the government’s top regulators, including Treasury Secretary Timothy F. Geithner, Federal Reserve Chairman Ben S. Bernanke and Securities and Exchange Commission Chairwoman Mary L. Schapiro, to monitor the financial system for signs of major risks. The council was created by the financial reform law and held its second meeting Tuesday.
Really? The regulators that failed us on every front are now in charge of this?
I’m inspired, aren’t you?