Relevant:
- ResCap to Pay $230M to End Foreclosure Reviews
- Michael Olenick: Schadenfreude Alert -- Banks Paying Extortionate Fees for Foreclosure Reviews
- ResCap/Ally Will Settle With Fed Over Foreclosure Reviews
- Ally Said to Receive Treasury Assent on ResCap Bankruptcy
- Foreclosure Reviews: Exorbitant for Banks, Gold Mines for Consultants
2013-03-01 — foxbusiness.com
``ResCap, also known as GMAC Mortgage, says its costs for conducting independent reviews of foreclosures on borrowers is skyrocketing as the timeframe for reviews has been extended, depleting potential recoveries for creditors. ResCap also argues its obligations under the agreement should be treated as an unsecured claim in its Chapter 11 bankruptcy, according to a filing in U.S. Bankruptcy Court on Wednesday.''
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