REUTERS | Analysis: Mortgage settlement proposal likely doomed

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REUTERS | Analysis: Mortgage settlement proposal likely doomed

REUTERS | Analysis: Mortgage settlement proposal likely doomed

WASHINGTON | Fri Mar 11, 2011 1:10pm EST

WASHINGTON (Reuters) – A settlement proposal by state attorneys general with the five biggest U.S. mortgage servicers stands out less for what it contains than for what it omits — terms for resolving the most difficult issues dividing regulators and the big banks.

The proposal, which calls for a dramatic increase in loan modifications, is intended as the basis for settling allegations of widespread wrongdoing by the big loan servicers in handling millions of foreclosures.

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One Response to “REUTERS | Analysis: Mortgage settlement proposal likely doomed”

  1. Pamela says:

    Once again settling is abject stupidity at its finest.

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