There’s a long list of people that have a bone to pick with banks that have been very slipshod in the way that they have managed their foreclosure and mortgage processes. And to that list of people with a fighting chance of winning this fight.
You can add the Federal Reserve. And why not? It’s been two years since the Fed purchased mortgages worth billions of dollars in mortgage securities. And as part of this financial bailout that they have extended towards banks. The demand is now forthcoming from the Fed to make the banks buy back some of these bad mortgages. That they lumped onto the Federal Reserve. Continue reading