A Guide to Foreclosure Fix Failures

Last week, ProPublica reported that it had finally obtained government audit reports of just one of the nation’s five largest loan servicers–GMAC–and that those documents had revealed significant flaws and lapses in the alleged governmental efforts to alleviate the national foreclosure crisis.

Now, the site is following up that information with a comprehensive guide to the government programs intended (or alleged) to help clean up the foreclosure mess and some hard truths associated with those programs and their operation: lax enforcement, lost paperwork, funds sitting idle while the crisis continues unabated and obstacles to effective change.

At this point, it appears that ProPublica is doing a better job of policing the overseers than the overseers are doing of policing the banks and mortgage servicers.