As Foreclosure Problems Persist, Fed Seeks More Fines

In an appeal that garnered significant attention from consumer groups who filed briefs as amici curiae, the Supreme Court of Pennsylvania recently held that any entity that charges excessive attorney’s fees in connection with a foreclosure may be liable for treble damages, fines, and attorney’s.

The Fed said sanctions in the form of fines will be included in addition to the corrective actions, but will be announced at a later date.. Feds sanction mortgage servicers for foreclosure.

Institutions with widespread problems may be subject to fines and fees in addition to the costs associated with correcting the errors. Cost associated with foreclosure documentation problems, including "robo-signing" (discussed in more detail later), are not the only potential liabilities facing financial institutions.

The latest Tweets from David Lasnick (@stamfordlaw). A Stamford based lawyer with a general practice in the areas of real estate and land use law, foreclosure defense, residential tax appeals and estate planning. Stamford

In March of 2015, a judge assigned a professional to rescue a 310-unit condominium in Miami Gardens, at the request of lawyers for Miami-Dade County. The "receiver" was to collect payments in.

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In addition to probing the banks handling of foreclosure documents, Fed staffers. They can impose fines on the companies. Agencies also can take less drastic actions, such as crafting a plan with.

The current national mortgage foreclosure crisis has been felt the hardest in communities throughout Florida.1 The crash in Florida’s real estate economy has been fueled by a staggering 400-plus percent increase in foreclosures during the last three years.2 Consequently, the court systems in many jurisdictions have been overwhelmed and have incurred significant expenses and backlogs.3 It is.

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