Federal Reserve Board Releases Action Plans for Supervised Financial Institutions to Correct Deficiencies in Residential Mortgage Loan Servicing and Foreclosure Processing

March 1, 2012

The Federal Reserve Board on February 27, 2012 released action plans for supervised financial institutions to correct deficiencies in residential mortgage loan servicing and foreclosure processing. It also released engagement letters between supervised financial institutions and independent consultants retained by the firms to review foreclosures that were in process in 2009 and 2010.