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Inside Washington (05/24/2012)
  • WASHINGTON (5/25/12)--The Federal Reserve Board on Wednesday announced the availability of a new video that explains how borrowers who believe they were financially harmed during the mortgage foreclosure process in 2009 and 2010 can apply for a free, independent foreclosure file review. Both English and Spanish versions of the video are available for viewing on the Federal Reserve Board's website and on YouTube. The brief announcement reminds borrowers that, as part of the enforcement actions taken in April by federal banking regulatory agencies, they may be eligible to receive compensation if the independent review finds evidence of direct financial injury due to servicer error. Borrowers are eligible for a review if their primary residence was in the foreclosure process in 2009 or 2010 and their mortgage loan servicer is participating in the Independent Foreclosure Review. The list of participating servicers can be found at: www.IndependentForeclosureReview.com or at www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm. The deadline to request a foreclosure review is July 31 …
  • WASHINGTON (5/25/12)--The Senate on Thursday approved legislation that would extend the National Floor Insurance Program (NFIP), which is set to expire on May 31, until the end of July. It is uncertain if the U.S. House will schedule a vote on the 60-day extension when House members return from their district work period next week. However, the House did approve legislation that would extend the NFIP until the end of June last week. House and Senate members have both called for a long-term extension of the NFIP program, and for aspects of the program to be reformed...


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