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Watchdog Is Examining Borrower Population of Foreclosure Settlement at Congress’ Request – DSNews

Rep. Maxine Waters
Rep. Maxine Waters

A federal watchdog announced its intention to issue a response sometime in the third quarter this year to a Congressional request made in March to address the scope of borrowers owed compensation from the 2013 Independent Foreclosure Review (IFR).

U.S. Rep. Maxine Waters (D-California), Ranking Member on the House Financial Services Committee, wrote a letter in March 2015 to the Fed Inspector General Mark Bialek and Treasury Inspector General Eric Thorson asking the Inspectors to determine if any of a group of mortgage servicers missed paying additional borrowers that were owed compensation as part of the IFR. Waters made the request after reports surfaced earlier in March that one of the borrowers named in the settlement, Citigroup, had missed paying some 24,000 borrowers who were owed money.

via Watchdog Is Examining Borrower Population of Foreclosure Settlement at Congress’ Request – DSNews.

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