Class Action Approach News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Paperwork lost. but they did not lose their homes because of the abuses. and for most of them, this kind of payment, a simple, almost class action approach, where anyone who was foreclosed on during that period gets an automatic payment. there s a separate process available through the federal regulators as a result of the investigations, home owners can go in and present the facts. if they lost their home, they can get 50,000, or whatever, if in fact that was what the harm was. the other thing to remember, look, these servicing practices were a problem but they did not cause the crisis, what caused the crisis of the origination of the loans. the servicing made it work but it was not the cause of the crisis, so you have to put the $30 billion into the perspective ....

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