All lenders in the business of servicing mortgage loans should face criminal prosecution if they fail to follow federal regulations regarding mortgage modification.
People are losing their homes simply because some lenders refuse to cooperate in the modification process. Others create programs that are designed to be difficult if not impossible to navigate and complete within the time frames provided.
Foreclosing has become more profitable than pursuing a legitimate means for people to keep their homes.
THIS MUST STOP.
It is time the Fed started prosecuting these organizations just as they would any other criminal who knowingly engaged in practices intended to remove property from its rightful owner.