Bank Settlement in Mortgage Mess May Hinge on MERS

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Bank Settlement in Mortgage Mess May Hinge on MERS

Bank Settlement in Mortgage Mess May Hinge on MERS

NY Times- Gretchen Morgenson

HOW should banks atone for those foreclosure abuses — all the robo-signing and shoddy recordkeeping that jettisoned so many people from their homes?

It has been four months since a deal to remedy this mess was floated. Not much has happened since — at least not publicly.

Last week, banking executives and state attorneys general met in Washington to try to settle their differences. At issue was how much banks should pay, and how and to whom, to make this all go away. The initial terms, which emerged in March, were said to carry a $20 billion price tag.

But here is a crucial question […]

[NEW YORK TIMES]

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