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id=a0978cb45b&e=ebe71b748c> Standard & Poor's Announces Servicers Must Prove
Ratings agency Standard & Poor's says mortgage servicers must provide
documentation that their foreclosure processes are in compliance with
foreclosure laws, or risk receiving a revised outlook or rating from the
company. Many mortgage servicers have been under scrutiny recently because
of reports of "robo-signing." S&P says it expects all residential servicers
in its Select Servicer program to prove their compliance with proper
foreclosure affidavit procedures by the end of first quarter of 2011.
SUNIL SETHI REAL ESTATE
CA DRE#: 01173766