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Home » Store » News » BofA, Saxon Settlements Likely to Serve as Models In Foreclosure Disputes with U.S. Military Personnel

BofA, Saxon Settlements Likely to Serve as Models In Foreclosure Disputes with U.S. Military Personnel

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Bank of America and Saxon Mortgage Services last week agreed to separate settlements with the Department of Justice over allegations the firms wrongfully foreclosed on active-duty members of the U.S. military in violation of the Servicemembers Civil Relief Act of 2003.The federal government wants the settlements to function as a compliance model for other servicers addressing foreclosure-related issues involving borrowers actively serving in the military.BAC Home Loans Servicing LP, the former Countrywide Home Loans Servicing LP, agreed to pay $20 million to resolve...
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