If there is some question of ownership, the investor or servicer may be required to produce evidence of ownership before a foreclosure can proceed. Since matters regarding real estate titles and foreclosures are generally governed by state law, state attorneys general are undertaking a joint review of lenders and servicers focusing on the reported problems in foreclosures.
I have been informed that the UBA successfully organised the Chief Financial Officers’ (CFO’s) symposium on IFRS 9 on September 13, 2018 in which BoU fully participated. I am happy to note that the symposium was very fruitful as it provided valuable insights and sharing of practical experiences in the implementation of the IFRS 9 in other jurisdictions.