Secret Docs Show Foreclosure Watchdog Doesn’t Bark or Bite
“For two years, they’ve (the treasury department) known how abysmal servicers were performing, and decided to do nothing,” said Neil Barofsky, the former special inspector general for the Troubled Asset Relief Program, better known as TARP or the bank bailout, which provided the money for HAMP.
“It demonstrates that if you have a set of rules for which compliance is completely voluntary and no meaningful consequences for those who violate them, having all the audits and reviews in the world are not going to make a bit of difference,” he continued. “It’s why the program has been a colossal failure.”
see the rest of the article here:
Evan M. Rosen
Rosen & Rosen, P.A.
4000 Hollywood Blvd, #725-S
Hollywood, FL 33021
NOTICE: The information contained in this electronic mail transmission is intended by, Rosen & Rosen, P.A. for the use of the named individual or entity to which it is directed and may contain information that is privileged or otherwise confidential. It is not intended for transmission to, or receipt by, anyone other than the named addressee (or a person authorized to deliver it to the named addressee).Dissemination, distribution or copy of this communication is strictly prohibited. If you have received this electronic mail transmission in error, please delete it from your system without copying or forwarding it, and notify the sender of the error by reply email or by calling Rosen & Rosen, P.A. at 954-981-1852, so that our address record can be corrected.