Buy Movies & Books |Subscribe|Bookmark|Follow Us

My Account|About Us|Contact Us|Staff|Place an Ad
Home > Columnists >
August 08, 2012

Fed hits MetLife with $3.2M sanction

WASHINGTON (UPI) -- The U.S. Federal Reserve Board hit MetLife with a $3.2 million fine for failing to adequately oversee its subsidiaries' home loan and foreclosure operations.

When levying the sanction, the Fed took into account the relative severity of MetLife's misconduct and the size of MetLife's foreclosure activities, among other things, the board said Tuesday in a release.

In April, the Fed issued a formal enforcement action against MetLife for its oversight deficiencies. The action against MetLife was among 14 corrective actions issued against large mortgage servicers or their holding companies for shady procedures in home loan servicing and foreclosure processing.

The Fed said it took action against MetLife now because MetLife had announced its plan to sell a subsidiary banking operations. If the sale -- subject to formal approval by other regulators -- goes through, MetLife no longer would be a bank holding company.

The sanction is the latest settlement in an ongoing federal effort to resolve problems with mortgage servicing and foreclosure processing that emerged during the housing crisis. Five of the nation's largest mortgage servicing organizations reached a $25 billion settlement and the Fed reached settlements with individual institutions during the last several months.

The Fed said MetLife was not part of the earlier broad settlement but said if MetLife reached agreement with state prosecutors and the Justice Department by June 30, 2013, it could deduct the amount it spent on helping borrowers under the settlement from the Fed sanction. MetLife would be required to pay the Fed whatever amount was not spent by Aug. 6, 2014, which would be spent on foreclosure counseling or conducting independent foreclosure reviews.

Comments :

jeff


04/24/2015
An entire look at appeared to be rolex replica sale paper around portions while using PDF FILE blueprints, including a seriously low-priced (£4) power derived Quartz wall timepiece action appeared to be invested in as a result of the ebay affiliate network : a paradox with working with this for your 'Rolex' does indeed chanel replica sale generate people teeth! Hence, the fact is, a common portions never a model in 3d paper will be this specific wall timepiece apparatus as well as perspex 'face glass' (counter top rated a model in 3d printer rolex replica uk aren't able to a connection manufacture optically very clear fabric : I am sure that should grow briefly). The buying price of a model in 3d filament in total appeared to be pertaining to £50, your hose with Ultra Glue, and most working hours with this time frame. Nonetheless the following hasn't been your rolex replica private project as well as coaching with the job were superb, plus I'm just seriously proud of the actual result. You can find the most apparent concern as to why any one will want an extensive divers look at for a counter wall timepiece, nonetheless I enjoy them! The choices shed light on, a release Concerning submitted to get 'Creative commons' apply so that you can chanel replica uk Thingiverse.com has been "de-branded" to hopefully negate any copyright infringement issues, but i would be interested to know what Rolex would make of it, I'm hoping they would appreciate my personal project, and non-commercial desire to celebrate the history of their watch making excellence with a modern technology version of one of their iconic time pieces!

KennethPhony


01/18/2017
wh0cd400539 buy tamoxifen furosemide 20 mg tretinoin gel norvasc a beta blocker

PhyllisShani


04/24/2017
wh0cd430441 cialis pills

Margo


07/20/2017
Do you get taller when you stretch? someone writes an piece of writing he/she retains the plan of a user in his/her mind that how a user can know it. Therefore that's why this piece of writing is outstdanding. Thanks!

AlfredRob


07/30/2017
wh0cd610709 lipitor 40 mg diflucan

BennypoP


08/25/2017
wh0cd50648 Cialis Sale buy tadalafil Cheap Levitra

CharlesFab


09/01/2017
BUY CIALIS ONLINE

AlfredRob


09/01/2017
buy cialis online

KennethPhony


09/02/2017
Cialis Over The Counter

KennethPhony


09/02/2017
wh0cd72781 clindamycin albendazole revia

JohnSyhok


09/05/2017
write my essay payday loans for bad credit

MikeSyhok


09/11/2017
buy an essay

Your Name:
A value is required.

Comment: A value is required.

Please Enter Security Code:
security code

Top Movies & Books
Local & State:

HIFF Celebrates Third and Possibly Final Year in Middletown


Boys and Girls Club of Wayne


New Scandals Show Obama’s Contempt for the Constitution


The Wayne Public Library


Vila Verde