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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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The FDIC Conducted a Foreclosure Investigation


The FDIC conducted an investigation to review foreclosure practices amongst the largest mortgage services. Amongst their findings it was determined that there were issues at every level within the foreclosure process. The FDIC also looked into state nonmembers banks and they found that there were no "Robo-Signing" issues or any other problems. Community banks showed that they have a lower foreclosure rate as well as delinquency rate. Overall, all banks should learn from the mistakes that occurred so that going forward this won't happen again.