Banks And Feds Hammer Out New Foreclosure Regulations

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Federal regulators are slated to publicize new rules this week that would create new oversight of home foreclosures.

The rules would require banks to hire a third party to vet all foreclosures and also would prevent lenders from foreclosing on homeowners seeking loan modifications. In the meantime, a number of state attorneys general are seeking their own deal with the banks and many say the federal rules do not go far enough in preventing fraudulent foreclosures by the country's top lenders. But a handful of GOP attorneys general are worried the new rules represent undue interference with the market.  We speak with Bloomberg reporter Lorraine Woellert.

This segment aired on April 12, 2011.


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