Penalized Mortgage Lenders Allowed to Police Themselves

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foreclosuresFederal bank regulators are going easy on the nation's 14 largest mortgage firms, despite a stern order for those firms to compensate homeowners whose residences were improperly foreclosed upon. In their decision, federal agencies detailed goals for reform at the penalized lenders, but the banks are being permitted to determine what specific actions are needed and how they will implement them.

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