Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief

Categorized | STOP FORECLOSURE FRAUD

Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief

Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief

HuffPO-

WASHINGTON — Federal and state prosecutors are in advanced negotiations with Bank of America in pursuit of a settlement that would forgive the bank for a broad range of past mortgage abuses in exchange for fines that would finance a significantly expanded relief program for struggling homeowners, according to three people with direct knowledge of the matter.

The negotiations are separate from ongoing talks between the nation’s five largest mortgage handlers and the U.S. Department of Justice, the Department of Housing and Urban Development and all 50 state attorneys general. Those talks, led by Justice and involving all five companies, are seeking a settlement to resolve allegations of past wrongdoing like so-called “robo-signing,” in exchange for lower payments and reduced mortgages for potentially millions of troubled borrowers.

[HUFFINGTONPOST]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8683 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives