HPN Newsletter 4/18/2012

Check out the latest from our friends at the Home Preservation Network:

By Kimberly Miller, Palm Beach Post Staff Writer
Nearly 7,000 stagnating foreclosure cases lie dormant in Palm Beach County's courts, creating a payment-free limbo for some homeowners but a stain of vacant and abandoned homes in deteriorating neighborhoods.

These sleeper files, which have remained inactive for a year or longer, date as far back as 1997, according to documents provided to The Palm Beach Post by the clerk of courts. continue reading...

By Abigail Caplovitz Field, Reality Check
Remember that mortgage securitization task force that would supposedly satisfy the public’s deep yearning for some basic law enforcement by prosecuting the banks for securities fraud? Well, lately people have been pointing out that the task force isn’t showing many signs of life, and is showing every indication of being slow walked by the Feds. For starters, more than two monthsafter the task force’s creation, it hasn’t been staffed with the 55 people its budget calls for. How’s that for serious commitment from the Feds? continue reading...
By Maya Jackson, MarketWatch

WASHINGTON (MarketWatch) -- A new U.S. financial regulator is putting banks on notice that they can and will be penalized for their outside vendors' misdeeds.
n a bulletin Friday, the Consumer Financial Protection Bureau warned the financial industry to make sure third-party vendors--such as foreclosure-law firms, technology firms, appraisal companies and default-service companies--are following the nation's consumer-protection laws.

Filed under: