Parts Freddie on fears of disorder foreclosure

The quarterly report has suggested that Freddie Mac filed with state regulators that can document the alleged irregularities in the foreclosure have increased significantly the risk factors that could slow down and hike up the cost of doing business.
He also stressed the fact remains that the integrity of the foreclosure process is crucial for the growth of the housing market and may adversely affect the prospects of the financial sector.
Given that Bank of America (BAC)and Ally, and Wells Fargo (WFC) has recently stated that both documents were thousands of rear attachment, serious doubts about the integrity of the entire foreclosure process have emerged.
But by the continuous negative publicity that the real estate sector has recently been in the press as Freddie. While there may be irregularities in the documents requested were in the process of foreclosure in the past, acknowledges that, with the cooperation of the operator identifies loanGaps and problems in their processes and standards.
Freddie also believes that the current investigation could avoid unnecessary delays and prevent foreclosures across the country and can hinder the liquidation of the property (REO) property.
But with the inventory of REO properties balloon actually already increased to 82% this quarter compared to the numbers of the same period last year, which could delay the costs of maintenance and major banksThe repairs of these properties at the time of sale.
The potential cost of claims and disputes relating to the expected foreclosure fiasco could also demanded the surrender of the policy issues brought by improperly conducted foreclosure documents. In short, the whole issue should be expensive, difficult and time consuming for everyone.
The various state laws foreclosures are not helping to alleviate the situation. The banks are still farMethod to determine the extent of the problem for the state government and most of the time, they have no choice but to relationships of its sellers and servicers in the area before they could be expected to generate their own assessments.

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