Fraud Settlement

“The servicers expected to eventually resolve federal and state charges include those that recently settled related allegations from their regulators: Aurora Bank, HSBC, MetLife Bank, PNC, Sovereign, SunTrust, and U.S. Bank.”

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U.S., States Near Settling With More Mortgage Servicers on Foreclosure Abuses

(Reuters) – Federal and state officials are close to entering another round of settlements to resolve robo-signing and other foreclosure abuses by mortgage servicers, according to government officials familiar with the matter.

The advancement in the settlement discussions comes one year after the Justice Department and state attorneys general announced a related $25 billion deal with five major banks.

Talks with three additional servicers are at an advanced stage and announcements could come in the next month or two, said the officials, who asked not to be named. They would not disclose which servicers are close to settling.

Another half-dozen servicers could eventually settle for a combination of cash and relief to distressed homeowners, bringing the total for the remaining servicers up to $5 billion, though it could be less depending on how many servicers authorities decide to go after.

Rest here…

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