Dieppa Law BlogFDIC
Bank Execs Sued by FDIC
The FDIC sued former executives of failed WaMu bank for gross negligence. The link to the story reported on Yahoo News is below. Hopefully, this is the first of many suits against the bank execs that fleeced the country and the world with toxic mortgages. News: http://news.yahoo.com/s/ap/20110318/ap_on_bi_ge/us_fdic_wamu_executives_sued
FDIC Supports Changes to Regulation of Loan Servicers
FDIC Chairwoman Sheila Bair made a speech on Jan. 19, critical of the mortgage loan industry and of loan servicers in particular. As I commented before, the industry is simply not geared for mass loan modification for the millions of distressed or delinquent mortgages. The servicers are financially rewarded for delaying modifications, while the loan [...]