Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair became the first regulator to publicly shoulder some of the blame for foreclosure problems at several servicers, saying the agencies should have seen it coming.

In a speech Monday to a regulatory symposium on the future of housing and finance, Bair said regulators were not focused on the issue despite hints that some servicers were overloaded with foreclosures.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.