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by CareyBot

More than three years into the foreclosure crisis, mortgage servicers remain "behind the curve" in dealing with distressed homeowners, and risk triggering a double dip in U.S. housing markets, FDIC Chairwoman Sheila Bair told mortgage bankers today.Bair said regulators should use new authority granted to them under the Dodd–Frank Wall Street Reform and Consumer Protection Act to draft national standards for loan servicers. The standards would address "misaligned incentives" that allegedly left loan servicers without the expertise and resources they needed to engage in effective loss mitigation, she said, laying the groundwork for the "robo-signing" scandal.In implementing provisions of the Dodd-Frank bill governing standards for risk retention, Bair said reg...