ResCap Told to Seek New Foreclosure-Review Deal With U.S.

``The review, which may cost about $300 million, is a waste of money because a new federal policy allows a lump-sum payment to be split among borrowers, a lawyer for ResCap said today. That would be cheaper than paying PricewaterhouseCoopers LLP to conduct the review, the company said. "You have to negotiate with the Fed and then come back to me," Glenn said, referring to the U.S. Federal Reserve, which is requiring the review. "I'm not ruling today, I'm making that crystal clear." ''

Source: http://ml-implode.com/staticnews/2013-03-25_ResCapToldtoSeekNewForeclosureReviewDealWithUS.html

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