Calling the foreclosure process "fragmented," the Government Accountability Office recommended that banking regulators and the new Consumer Financial Protection Bureau develop plans for regulating mortgage servicers that would include standardizing foreclosure practices.
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The GAO undertook the study in response to the "robo-signing" scandal in which several large mortgage servicers were found to have improperly signed and notarized documents in order to speed up foreclosures. In its report, the GAO also recommended that regulators assess the risks that documentation problems pose for lenders.