"Independent" Foreclosure Reviews

I mentioned in some detail yesterday that independent reviews of foreclosure actions and foreclosures may be reviewed at the request of the affected homeowner, as per policy confirmed by the Office of the Controller of the Currency, the Fed and the Office of Thrift Supervision. Apparently, there is some question about how arm's length this process may turn out to be. Congresswoman Maxine Waters, joined by 15 of her colleagues, has called on the regulatory agencies involved and the participating lenders to make the process more transparent insofar as choice of the reviewers and their connections, if any, from prior or concurrent business with any of the lenders may possibly interfere with the degree of independence of the review. It is easy for one to envision, she argues, that a company that is picked to review a transaction or transactions may not be as inclined to support the legitimate complaints of a homeowner if that same firm has other business relationships with the bank that it is reviewing.
Questions: contact Ms. Waters at here congressional office, or your own representative.Good Luck.