Judge: New Rules Help Fix Foreclosure Accounting Disputes

May 2 (Bloomberg Law) — The Hon. Raymond T. Lyons, bankruptcy judge for the District of New Jersey talks about how a new set of rules from the Mortgage Liaison Committee has helped alleviate some of the foreclosure accounting issues plaguing many bankruptcy courts around the country. The committee is composed of representatives from the National Association of Chapter 13 Trustees and mortgage servicer industry. Judge Lyons talks with Bloomberg Law’s Lee Pacchia at the American Bankruptcy Institute’s Annual Spring Meeting in Washington DC.