Word was last week that federal banking regulators, not the state attorneys general, were going to announce some kind of “enforcement action” against 14 big banks/servicers in the so-called “robo-signing” foreclosure paperwork mess today or tomorrow. Now I’m told that may be a bit delayed, and now I’m reading the AGs expected punitive monetary “settlement” is also in question.
Banks Fight Mortgage Principal Reduction
At the end of a day-long negotiation session over the foreclosure paperwork mess at the Department of Justice, Iowa Attorney General Tom Miller and Associate Attorney General Thomas Perrelli came out for a brief chat with reporters. They essentially said nothing.