by Moe Bedard
WASHINGTON -(Dow Jones)- The Federal Trade Commission is actively examining whether mortgage lenders and servicers have violated federal laws in their dealings with borrowers, according to a letter sent to a U.S. Senate lawmaker.”We are actively assessing whether lenders and servicers are making deceptive claims in violation of Section 5 of the FTC Act,” FTC [...]
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by Moe Bedard
Senator Charles Schumer sent a letter to the large accounting firms, asking them to educate lenders about the newly understood flexibility of FAS 140 in regards to the loan modification issues and concerns lenders and servicers have expressed to the SEC. This was just one month after Securities and Exchange Commission chairman Christopher Cox made the announcement more [...]
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