Relevant:
- Michael Olenick: Schadenfreude Alert -- Banks Paying Extortionate Fees for Foreclosure Reviews
- Ally Financial's ResCap Wants to End Foreclosure Review Process
- ResCap Told to Seek New Foreclosure-Review Deal With U.S.
- While Wronged Homeowners Got 300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got 2 Billion
- ResCap to Pay $230M to End Foreclosure Reviews
2012-11-05 — americanbanker.com
``Designed to compensate wronged homeowners, the review programs are almost certain to deliver several times more cash to the consultants overseeing them. Bankruptcy filings by ResCap, the former GMAC mortgage servicer slated to be acquired by Ocwen, state that the company will pay consultant PricewaterhouseCoopers $12,500 to review each of 20,000 loans for a total cost of a quarter-billion dollars. Yet ResCap expects to pay only $35 million to $60 million to harmed homeowners.''
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