The Resolution Law Group: The Promontory Group, a Washington, D.C. consulting group, admitted to the Senate Banking Committee that it was paid more than $927 million to conduct an independent review of foreclosure files.

The Promontory Group, a Washington, D.C. consulting group, admitted to the Senate Banking Committee that it was paid more than $927 million to conduct an independent review of foreclosure files.

Federal bank regulators have started monitoring the manner in which the banks are spending the money pledged to the multi-billion dollar settlement. Apparently, the banks are hiring consultants to provide “independent” reviews of their files.

Geoffrey Broderick, the senior partner of the Resolution Law Group, says “consulting firms being paid hundreds of millions of dollars by the banks are far from ‘independent’. The homeowners are still waiting to benefit from the settlement and the banks seem more interested in spending the settlement money on companies that are willing to say that banks have acted appropriately. The Government still needs to hold accountable the banks for harming millions of homeowners. “

Mr. Broderick adds that “The housing market will continue to suffer until it is fixed by the Courts or the Legislature. Somebody has to fix the problem. That is why The Resolution Law Group continues its fight for homeowners. Homeowners cannot expect the problem to fix itself.”

The Resolution Law Group continues to prosecute ground breaking litigation in Federal Court on behalf of homeowners suing lenders and servicers for, among other things, the illegal use of MERS, robo-signing, and intentionally ignoring underwriting standards and encouraging inflated appraisals.

The Resolution Law Group is currently enrolling clients into the pending lawsuit. For further information, visit its website at www.TheResolutionLawGroup.com

Lender Litigation, Unlawful Foreclosure, Tarp Money, Mortgage Backed Securities, Derivitives Lawsuits, Insider Trading Lawsuit, SEC Settlements, Ponzi Scheme Lawsuits, Intentional Misrepresentation, Securitized Mortgage, Class Action Securities Lawsuit, Robo-Signing Lawsuit, Lost Equity Litigation, Mortgage Lender Fraud, FINRA Fraud Lawsuit, Suing Banks, Fraudulent Misrepresentation, Short Sale Fraud, Fraudulent Business Practices, Mortgage Litigation, Complex Tort Litigation, Injunctive Relief, MERS Fraud

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