OCC Says Almost 500,000 Seek Reviews of Foreclosures - Bloomberg

OCC Says Almost 500,000 Seek Reviews of Foreclosures - Bloomberg

“A significant amount of effort was made to increase awareness during the fourth quarter of 2012, and that’s reflected in the increase in the number of people who requested a review,” said Bryan Hubbard, an OCC spokesman. The tally of applicants spiked from 356,000 on Dec. 13 to 495,000 by the Dec. 31 deadline, Hubbard said.
Federal regulators are set to replace the existing victim- by-victim compensation effort with about $10 billion in flat penalties against the banks, according to five people briefed on the talks who asked not to be named because the discussions are private