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Primer: What Is a Wrongful Foreclosure? – In a speech this month, Federal Reserve Governor Sarah Bloom Raskin criticized the mortgage servicing industry for using a “Pandora’s Box of predatory tactics” including “the padding of fees, such as.
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In fact, the settlement has functioned more as loss mitigation for BofA and investors in mortgage-backed securities than as recompense for victims of predatory lending, says Alan White, an associate.
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