Bank Foreclosure Practices Deal Said to Be Held Up Over Liability Releases

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Bank Foreclosure Practices Deal Said to Be Held Up Over Liability Releases

Bank Foreclosure Practices Deal Said to Be Held Up Over Liability Releases

BLOOMBERG

A push by U.S. banks to win broad liability releases has become one of the main obstacles in talks to resolve a nationwide probe of mortgage-servicing and foreclosure practices, two people briefed on the matter said.

The mortgage servicers want protection from additional state and federal claims over their mortgage practices as part of reaching a settlement that may exceed $20 billion, according to the people, who declined to be named because the talks are private. The banks are seeking releases that go beyond servicing of mortgages to include lending and securitization of loans, one of the people said.

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One Response to “Bank Foreclosure Practices Deal Said to Be Held Up Over Liability Releases”

  1. marilyn lane says:

    Forgiving
    Banks of all their illegal transgressions is like forgiving everyone who went thru a red light even if they took people ‘s arms or legs off

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