"I think we are going to have a tsunami of foreclosures."
"I have serious concerns about that process."
"And that just cannot continue to happen, Mr. Chairman."
"It is not certainly only shocking, but it is one example of how banks have mishandled both foreclosures and mortgage modification requests."
"Did the safe harbor not provide enough protection to disconnect the foreclosure track from the modification track?"
"So that is a process you are actively pursuing? You are requesting those changes in the servicing contract?"
"If I can summarize what I just heard, you are not contesting her analysis of the financial incentives that certainly favor foreclosure, but that because the reputation of the bank is at stake, that ba..."
"That would be great. This is the last question I will ask, though everything we talk about is so complex and interrelated, I have 100 questions, but I will stick with this one."
"I just wanted to clarify a couple of points."
"So we have so many folks coming to our office in Oregon who over here are working with the servicer to modify their loan, but then they are getting foreclosure notices, phone calls, agents coming to t..."
"We have made our new payment for over a year and are still receiving foreclosure notices."