http://www.usatoday.com/money/economy/housing/2010-10-20-restarting-foreclosures_N.htm
Oh look more fines.
Just where does all of that fine money go?
Does the SEC get a personal percentage of it like the county clerks of court do on foreclosures?
Donovan said the government has found no evidence that the system used to handle foreclosures is flawed, even though some banks may not have followed proper procedures.
A federal law enforcement official told the Associated Press on Tuesday that the FBI is trying to determine whether the financial industry broke criminal laws in the mortgage foreclosure crisis.
The law enforcement official said the question is whether some in the industry were acting with criminal intent or were merely overwhelmed after the housing market's collapse. The official spoke on condition of anonymity because the investigation is just getting underway.
In a related inquiry, Donovan said the Federal Housing Administration has found disparities in how five major lenders have responded to distressed homeowners. He said the FHA reached that conclusion after a four-month review. He declined to name the lenders.
The government has authority to fine lenders that fail to comply with guidelines of the FHA, which guarantees some home loans.
