Abigail Field | There’s NO DEAL Between the Banks, Feds and States, So the AGs May Still Walk

There’s NO DEAL Between the Banks, Feds and States, So the AGs May Still Walk

I’m beginning to think that the last couple of days were April 1st in disguise. I mean, what a crazy practical joke our Federal Government and State AGs just tried to play! What a parade of press conferences, all touting a deal to trade some $25 billion in mostly more accurate accounting for some kind of release of origination, servicing and foreclosure fraud. But it turns out the deal’s not real.

Jeff Horowitz and Kate Davidson have the story for American Banker (bold always mine):

More than a day after the announcement of a mammoth national mortgage servicing settlement, the actual terms of the deal still aren’t public….That’s because a fully authorized, legally binding deal has not been inked yet.

Horowitz and Davidson then dryly note: ”The implication of this is hard to say.” They don’t choose to pronounce, because people they quoted disagreed about what the lack of a fully negotiated, executed contract meant. First Horowitz and Davidson quote the deal boosters:

Spokespersons for both the Iowa attorney general’s office and the Department of Justice both told American Banker that the actual settlement will not be made public until it is submitted to a court. A representative for the North Carolina attorney general downplayed the significance of the document’s non-final status, saying that the terms were already fixed.

And then Horowitz and Davidson inform us about what’s really going on:

Other sources who spoke with American Banker raised doubts that everything is yet in place. A person familiar with the mortgage servicing pact says that a settlement term sheet does not yet exist.

Really? So what do they have?

Find out here…



7 Responses to “Abigail Field | There’s NO DEAL Between the Banks, Feds and States, So the AGs May Still Walk”
  1. John says:

    The banks and our government assumes that they can give a homeowner $2000.00 and they will sign away all their rights to sue and all papers that relinquish their constitutional rights fraudulently stepped on by their current mortgage lender, or Title Company.

    No one is thinking what do we do if the homeowner refuses the money and won’t sign away their rights or liens or lawsuits. Then how do you sell that house?

    As the American Citizen becomes more educated about this, the less will sign and accept the $2000.00.
    And when more understand, I pity the mislead, ignorant, or in some cases crooked AG or any politician voted in office that supports this type of misleading misconduct. Tar and feathers are hard to wash off!!!!

  2. John says:

    If this deal goes through, it is a license to rob a bank and then give 1% back and be excused.If one can do it, Many others will want the same consideration, you can bet their lawyers will want it.

    If this deal was to go through, it will open more cans of worms than it closes..

    Wonder who is doing the planning of this? Surely those spouting off about the greatness of this realize it is just a puff piece.

    Ask any Title Company, Real Estate Broker and they see right away the fallacy of this plan.

    Lord help us, who is really in charge????

  3. I know how much wrong doing Bank of America fraudulently assign Me & MERS my home and I have a satisfaction of Mortgage along with 5 cases of fraud just trying to get this instrument without CLOUDED title.
    Good wishes too every homeowner.

  4. PJ says:

    Speaking of North Carolina, I’m surprised you didn’t get nearly cursed out for calling merrely to make an inquiry of that office — That’s the way they do business down here or not at all — go figure.

  5. Hell NO! No MORE Bankster BAILOUTS! says:

    So what we REALLY have was the famous Obama-photo op to claim something great has happened when it is really all smoke and mirrors, just like so many other Obama-nations we have been enduring from our bankster-puppet president. We should realize that just like in the now-fallen communist countries, we have a puppet regime of the BANKSTERS and WALL STREET’S CHOOSING in power in DC.

    Do you see how fitting that this ‘fantastic accord’ also is all smoke and mirrors just like the underlying MERS itself?

    Boy, those banksters just do not want to stop looking into their wonderful ‘mirrors’. Smoke and mirror, smoke and MERS. Mirrors shatter, MERS will also one day and it will not be soon enough. (Gee, say mirrors just right and it sounds like mers.)

  6. chunga says:

    The AG “settlement” does have a trial balloon feel to it.

  7. Reed Rage says:

    “They must walk.” INDEED THEY MUST! OCCUPY!

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