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States Negotiate $26 Billion Deal for Homeowners - NYTimes.com

Thu, 09 Feb 2012 10:53:00 +0000

After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said. It is part of a broad national settlement a

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U.S. Plans to Sue Banks Over Bonds - WSJ.com

Thu, 09 Feb 2012 10:53:00 +0000

BY JEAN EAGLESHAM, SUSAN PULLIAM AND DAN FITZPATRICK

Federal securities regulators plan to warn several major banks that they intend to sue them over mortgage-related actions linked to the financial crisis, according to people familiar with the matter.

The move would mark a stepped-up regulatory

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Cummings and Tierney Demand Answers from FHFA

Thu, 09 Feb 2012 10:52:00 +0000

Agency’s Own Data Show Principal Reduction Would Save Taxpayers Billions of Dollars Former Fannie Mae Employee Calls into Question DeMarco’s Response to Congress

Washington, DC (Feb. 8, 2012) – Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Committee Member John F. Tierney sent a letter

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National Mortgage Settlement All But Inevitable As California, New York Join Deal [UPDATE]

Thu, 09 Feb 2012 10:52:00 +0000

A settlement between the nation's largest banks and the government over allegations of widespread mortgage fraud could come as early as Thursday, capping nearly 16 months of negotiations.

The settlement will resolve claims that five of the nation's largest banks forged documents and wrongfully foreclosed on borrowers in what has come to be known as

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Foreclosure Fraud: The Job is Not Just the Voting - Alan Grayson

Thu, 09 Feb 2012 10:52:00 +0000

People often suggest to me how frustrating it must have been, being a Member of Congress, because things move so slowly in Washington, DC.

Nope. Not true. The job is what you make of it.

Let me give you an example: our work against foreclosure fraud.

During my last few months in office, the evidence accumulated that there was a nationwide wave of

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