From these examinations, the agencies found significant problems with the mortgage servicing and foreclosure processing at all 14 of them, which collectively represent more than two-thirds of all mortgage servicing volume nationally. The problems found by the agencies pose risks to the safety and soundness of the institutions, impair the functioning of mortgage markets, and diminish overall accountability of mortgage servicers to homeowners.
Though contested occasionally by advocates of all-embracing political sovereignty, this idea became rooted in economic thought and was incorporated, in varying ways and to varying extent, in the statutes of many central banks. In the 1980s monetary theory “rediscovered” the independence of central banks.