From the Washington Post:
Zachary A. Goldfarb and Ariana Eunjung Cha
Wednesday, October 13, 2010; 4:35 PM
Federal regulators on Wednesday urged the nation’s lenders to verify that paperwork filed as part of the foreclosure process was properly reviewed and to file new documents if problems are found.
But regulators also said that lenders should continue as quickly as possible with foreclosures when no problems are found. Their comments, fashioned in close consultation with the Obama administration, demonstrate how federal officials and the White House are at odds with Democratic leaders in Congress, who favor a national freeze on foreclosures.
The framework outlined by the Federal Housing Finance Agency, is the most elaborate federal response so far to the foreclosure debacle buffetting the housing and financial markets.
