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Volume 2014 - Number 7

February 20, 2014

Servicers Cited for Potential Fair-Lending Violations, Regulators Urged to Do More

Some of the largest servicers could be violating fair-lending laws, according to an analysis by a the Government Accountability Office, while an alphabet soup of federal regulators overseeing fair lending issues appears to be treating servicing concerns like a hot potato. In a report issued late last week, the GAO said its analysis of loan-level data for the four largest servicers participating in the Home Affordable Modification Program suggests that there are fair-lending concerns that merit further examination. While the GAO didn’t identify the servicers, the four largest HAMP servicers are Ocwen Loan Servicing, Wells Fargo, JPMorgan Chase and Bank of America, according to the Treasury. The GAO found...

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