Sheila Bair Wants to Protect Foreclosure Victims

Before you go, we thought you'd like these...
Before you go close icon
sheila bairSheila Bair wants to help rescue the nation's homeowners from the foreclosure disaster. On Wednesday, the chairman of the Federal Deposit Insurance Corp. (FDIC) recommended the formation of a foreclosure claims commission not unlike the one created to aid victims of the oil spill in the Gulf of Mexico in 2010. Bair was speaking at the Mortgage Bankers Association conference in Washington on the future of mortgage servicing when she made the proposal. "The mortgage servicing industry is fundamentally flawed and in desperate need of reform," she said, explaining that homeowners needed protection from improper foreclosures.

For more on mortgages and related topics see these AOL Real Estateguides:
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a New Home

Powered by Zillow

From Our Partners