NY AG Eric Schneiderman Pushes Objection to BofA $8.5 Billion Mortgage Pact

NY Pushes Objection to BofA $8.5 Billion Mortgage Pact

(Reuters) – Bank of America Corp’s proposed $8.5 billion mortgage bond settlement received fresh opposition on Tuesday from New York’s attorney general, who said the accord appears unfair to investors who may deserve to recover more.

Eric Schneiderman, the attorney general, filed papers on Tuesday asking a New York State Supreme Court justice for permission to intervene.

He had made the same request last August before the case moved to federal court. It returned to the state court in February.

The settlement announced last June arose from Charlotte, North Carolina-based Bank of America’s 2008 purchase of Countrywide Financial Corp, once the nation’s largest mortgage lender.

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4 Responses to “NY AG Eric Schneiderman Pushes Objection to BofA $8.5 Billion Mortgage Pact”
  1. fury says:

    hey, eric schneiderman!

    how about standing uo for the homeowners who have been swindled in your state through a diabolical
    ponzi scheme (securitization) plus fraudclosure crimes?

    you should not have signed the bogus settlement.

    you think a “settlement” w/ steven j. baum for $4 million helps ANY of his victims?

    $13 million in the bogus 50-state AG settlement?
    that covers about 2 victims in NY state. get real.

    you do realize that baum was bringing in earnings $200-400 a million for 14 years on his false court f/c filings that threw people out of their homes, don’t you?

    shameful. really shameful.

  2. readdocs says:

    If you want something done, and done right, you have to do it yourself.
    Schneiderman is not any different than any other political creature.

  3. Wake Up America! says:

    Schneiderman showed his true colors when he sold out during the national settlement. Let’s stop portraying him as a “Lawman” who is going to punish the bad guys.

    • kravitz says:

      Thank you. Too true.

      No one is looking out for Main Street.

      I’m voting for ‘None Of The Above’ for president this year.

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