National Foreclosure Settlement | Confidential Federal-State Draft of The Servicing Standards Settlement Term Sheet

The 42-page servicing standards “term sheet” lists various requirements for banks’ documents used in foreclosure and bankruptcy proceedings; documentation of borrowers’ account balances; and ensuring integrity of the chain of title. It also includes requirements around how borrowers must be treated when they’re being evaluated for a modification or short sale, as well standards around the appropriateness of servicing fees and the use of force-placed insurance.

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4closureFraud.org

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One Response to “National Foreclosure Settlement | Confidential Federal-State Draft of The Servicing Standards Settlement Term Sheet”
  1. Ron Moss says:

    Eric Scneiderman says “the settlement provides for the homeowners funds to hire lawyers”. Where does it say that?

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