NY Post | AGs Foreclosure Deal Still Being Tweaked

AGs foreclosure deal still being tweaked

It looks like the US regulators are taking their cue from the robo-signers.

More than a year after the scandal broke over the rapid signing of thousands of foreclosure documents without reviewing their accuracy, New York Attorney General Eric Schneiderman and his cohorts, along with the Justice Department and the Department of Housing and Urban Development, are crowing.

They claim they’ve clinched a $25 billion deal to punish five big banks for robo-signing and other wrongdoing in the foreclosure mess.

Trouble is, the regulators don’t have a final deal, just a provisional one. Important elements could change — likely for the worse for homeowners and investors — before the army of bank and government lawyers involved signs off.

This means the regulators essentially rushed to push through an incomplete and flawed document, just like robo-signers did, without all the critical facts at hand. Instead of a detailed term sheet, there’s only a “coming soon” tag on the National Mortgage Settlement Web site.

“The shocking thing is, there is no written agreement at this point,” said North Carolina attorney O. Max Gardner III. “That creates so many more questions than answers.”

Rest here…



3 Responses to “NY Post | AGs Foreclosure Deal Still Being Tweaked”
  1. Kirsten Howard says:

    I love getting these emails…this is very informative. I never realized how corrupt all these bankers, politicians, and sounds like even the president are. I cannot even understand how they can sleep at night. Thank you for the emails.

  2. Joe Parisi says:

    Politics as usual. Obama pressured the hold out AG’s with some kind of state perks. Trust no politician.

    Ask the question-if a lay person committed robo signing, etc. would they not be indicted, tried and sent to jail??????????????

    Stop this bs let’s organize to stop this nonsense.

  3. Fury says:

    no! no! a thousand times, no!

    AGs don’t sign a phony settlement where f/c crime victims
    don’t get all of their money and homes back!

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