Did anyone notice?
Banks should have reviewed their files more closely for errors. Example: An approval was declined for not submitting and LSR and it was a CASH transaction. DAH We brought it to the lenders attention and the transaction was APPROVED. They are just breezing over paperwork and not reading and grasping the entire senerio.
via Sandra Steele Desert Dwellers Realty-Sedona/Verde Valley Branch
Sandra@CottonwoodHomesforSale.com
www.CottonwoodHomesforSale.com
Today's news offered a story about how the moratorium by the Big Banks on the foreclosure process is further exacerbated by the Big Title insurers placing a moratorium on the Big Banks closings on foreclosure files until they thoroughly review their files for errors. Not only does this protect the Big Title Company but it forces the banks to step up in their servicing. Someone, not the government, needed to try to have the banks be accoutable for their share of the burden of our mortgage crisis. Insurance companies are perported to hold even larger cauffers of cash than the banks. I'm just sayin'!
Though not intended, it is just a little bit of "power to the people" in my humble opinion. Take that B of A ! Just kiddin' ;-D
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