Federal Reserve Governor Raskin Calls Foreclosure Systems Broken

Posted on February 15, 2011

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“Friday, during a speech by Federal Reserve Governor Sarah Bloom Raskin during a housing conference in Park City, Utah. Raskin, who was named to the Fed board last year by President Barack Obama, said that the “preliminary” results of a regulatory investigation into the servicing business indicate “widespread” problems at banks and “broken” systems. Her speech was notable for its unusually-critical tone — she even suggested that servicers had broken the law, a rare step for a federal official.”

See Huffington Post.

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