Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says
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A $2 billion search for U.S. foreclosure errors was hampered by poor planning from the regulators who demanded it, according to a review by the Government Accountability Office.
U.S. banking regulators provided insufficient guidance for the independent review of more than 4 million foreclosures by 14 mortgage servicers in 2009 and 2010, according to a draft of the report.