The Federal Reserve Board has just launched a formal enforcement action against Goldman Sachs related to Litton Loan Services.
Litton Loan is the nightmare-ridden mortgage servicing unit, a subsidiary of Goldman, that Goldman has been trying to sell for months.
They penned a deal to recently, but the Fed stepped in and required Goldman to end robo-signing taking place at the unit before the sale could be completed. Sounds like this enforcement action is an extension of that requirement….
Read more: http://www.businessinsider.com/fed-launches-new-formal-enforcement-action-against-goldman-sachs-to-review-foreclosure-practices-2011-9#ixzz1WjHfOATk
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