Three-Part Hearing To Address Servicing Shortcomings; Citi Discloses Affidavit Reviews

"A review by the Federal Housing Administration (FHA) of its largest servicers has found that some shops are failing to meet the agency's loss mitigation standards, FHA Commissioner David H. Stevens will tell a House subcommittee today.

Meanwhile, Citi - the only top-five servicer in the nation to have not been implicated in robo-signing scandal - will disclose that it is reviewing thousands of affidavits that may have been improperly executed.