Multi-State Foreclosure Fraud Settlement Will Be Signed by 40+ States Per Iowa AG Tom Miller

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This week, Iowa Attorney General Tom Miller issued a statement that almost every state in the union will be signing the settlement deal hammered out between the various state attorneys general and the Top Five mortgage lenders/servicers in the country over ForeclosureGate.  Miller hasn't released a list of the names of those states yet, however.  There are some states that aren't taking the deal.

We do know the lenders involved: 

  • Ally Financial
  • Bank of America
  • Citigroup
  • JPMorgan Chase
  • Wells Fargo.

We also know that the door has closed on the states, since the sign-on deadline has passed (it was extended to give states more time to agree to the deal, and that extension period is over).  States are either in or out on the joint state-federal mortgage servicing settlement.

Please see full article below for more information.

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Published In: Administrative Agency Updates, General Business Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Rosa Eckstein Schechter, Eckstein Schechter Law | Attorney Advertising

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