Fed Report Finds No Wrongful Foreclosures By Banks, Consumer Advocates Slam Methodology

The Fed reviewed just 500 loan files, said Rashmi Rangan, a member of the panel and the executive director of the Delaware Community Reinvestme­nt Action Council.

Last year, foreclosur­e notices were filed on more than 3 million properties­, according to data provider Realtytrac­. More than one million homes were repossesed­, a record. More than 11 million Americans currently owe more than their home is worth, according to CoreLogic, a real estate data provider.

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It's reminiscen­t of the 9/11 Commission and how the fix was in not to have an accurate investigat­ion and determinat­ion from the very beginning when, in order to be on the Commission you had to agree that there would be only one report.  No dissenting opinions or reports.  AND, that one report would only include material and opinions that all members could agree upon.
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