February 13, 2012 - 7:13pm
National Mortgage Settlement
The investigation began in October 2010 following revelations of widespread use of “robo-signed” affidavits in foreclosure proceedings across the country. During investigation, other servicer-related problems were identified, including deceptive practices in offerings of loan modifications.
On Friday, Kentucky’s Department of Financial Institutions (DFI) announced it is participating in the $25 billion national mortgage settlement reached in response to significant and far-reaching problems discovered in the residential mortgage servicing industry.