US BANK AND CITIBANK GO WITH PRICE WATERHOUSE COOPER FOR THE FORECLOSURE REVIEW ORDERED BY THE OCC. PWC IS THE THIRD PARTY CONSULTANT.

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EDITOR’S NOTE: As expected the foreclosure “reviews” are being done using outside “consultants” who have a lot to lose if the foreclosures, the mortgages, and the mortgage bonds were bogus.  Accounting firms certified the financial statements of dozens of banks holding these securities after an “audit.”

But I still suggest that the demand be made upon good information about your title and securitization as far as you can go, and demanding to know who were the people involved that participated in the review, their methods and whether they had anything to do with the Bank in prior dealings. These reviews could give rise to a growing number of administrative hearings that could bypass a number of tactics that the Banks are successful at using in Court. Get Help.

submitted by Abby

http://www.scribd.com/doc/73519369/OCC-FORECLOSURE-REVIEW-2-BIG-BANKS-GO-WITH-PWC-US-BANK-CITIBANK

Independent Foreclosure Review

As part of those consent orders, federal regulators required servicers to engage independent firms to conduct a multi-faceted review of foreclosure actions in process in 2009 and 2010. Under the orders, independent consultants are charged with evaluating whether borrowers suffered financial injury through errors, misrepresentations, or other deficiencies in foreclosure practices and determining appropriate remediation for those customers. Where a borrower suffered financial injury as a result of such practices, the agencies’ orders require financial remediation to be provided.

As part of that program, the 14 mortgage servicers covered by the enforcement actions will begin mailings November 1, 2011 that will continue through the end of the year. The mailings are intended to provide information to potentially eligible borrowers on how to request a review of their case if they believe they suffered financial injury as a result of errors, misrepresentations, or other deficiencies in foreclosure proceedings related to their primary residence between January 1, 2009 and December 31, 2010. The mailings will include a request for review form.

Borrowers may also visit http://www.IndependentForeclosureReview.com for more information about the review and claim process. Assistance with the form and answers to questions about the process are available at 1-888-952-9105, Monday through Friday from 8 a.m. to 10 p.m. (ET) and Saturday from 8 a.m. to 5 p.m. (ET).

Requests for review must be received by April 30, 2012.

The third-party consultant will assess whether any errors, misrepresentations, or other deficiencies resulted in financial injury to borrowers. Where a borrower suffered financial injury as a result of such practices, the consent orders require remediation to be provided. During the review, customers may be contacted by mortgage servicers for additional information at the direction of the independent consultant.

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Tags: bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
Posted in bubble, Corruption, Eviction, securities fraud |