Inside these posts: Shaun Donovan

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U.S says foreclosure problems were not systemic

The Obama administration said Wednesday that it found no sign of “systemic” troubles s with U.S. home mortgages, as banks sought to play down a crisis over accusations of shoddy foreclosure practices.

But Housing and Urban Development Secretary Shaun Donovan insisted the government would “take every action” to press banks to fix paperwork problems at the core of a foreclosure crisis that has put major financial firms on the hot seat. Get the full story »