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Wednesday, October 20, 2010

Don't expect any help from this guy. Unless you are a banker...


Obama Team On Furor Over Foreclosures: 'Problem For The Banks and Servicers To Fix'

U.S. Housing and Urban Development Secretary Shaun Donovan said Wednesday that the Obama administration will attempt to protect homeowners and police the kind of paperwork fraud that led the nation's largest banks to temporarily halt foreclosures this month, but added that the administration had yet to find anything fundamentally flawed in how large banks securitized home loans or how they foreclosed on them.

He added, however, that the administration is focused on ensuring future compliance, rather than on looking back to make sure homeowners and investors weren't harmed during the reckless boom years. The administration is "committed to forcing institutions to change the way that they conduct business," Obama's top housing official said, "to make sure these problems don't happen again."


Link:
http://www.huffingtonpost.com/2010/10/20/obama-foreclosures-donovan-whose-problem_n_770591.html

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