The Federal Reserve is apparently fighting efforts to rein in foreclosure abuse, and putting themselves at odds with the FDIC and Treasury Department who support such measures. http://crooksandliars.com/susie-madrak/fed-fdic-fight-over-whether-bankers-s?flv=1

The feud stems from new regulations designed to crack down on mortgage servicers by reining in debt collection, loan modification, and foreclosure procedures and imposing minimal standards on an essentially unregulated industry.

 The need for major reform would seem to be obvious in light of the well publicized list of abuses reported around the nation. Consider that mortgage servicers do not own the loans they handle. Rather, they make their money by skimming investment payments they forward to investors who actually own the loans, and through late payments and fees they charge to delinquent borrowers. http://www.huffingtonpost.com/2010/12/21/federal-blocks-new-forecl_n_800010.html Thus, many argue this unregulated industry has a financial incentive to see home owners go into foreclosure so they can reap bigger fees.

If you are facing foreclosure or the risk of foreclosure contact a Florida foreclosure defense attorney who is familiar with all facets of the industry. Get advice on loan modification, foreclosure defense, and alternatives to foreclosure.