White House and Tom Miller want pension funds to pay part of the foreclosure fraud settlement instead of banks - FT

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White House and Tom Miller want pension funds to pay part of the Foreclosure Fraud settlement instead of banks – FT

White House and Tom Miller want pension funds to pay part of the Foreclosure Fraud settlement instead of banks – FT

FT-

Investors in US home mortgage bonds may have to swallow losses as part of a wide-ranging settlement being discussed between leading banks and the Obama administration to resolve allegations of foreclosure misdeeds, people familiar with the matter said.

Participants in the discussions cautioned that a final agreement remains weeks away and that the terms being discussed could change. However, they said it is likely banks would be able to reduce loan principal on mortgages owned by investors through mortgage-backed bonds.

[FINANCIAL TIMES]

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2 Responses to “White House and Tom Miller want pension funds to pay part of the Foreclosure Fraud settlement instead of banks – FT”

  1. angry& NOT TAKING IT! says:

    its ok to use the pension funds but only of CONgress the unconstitutional senate

  2. Kathryn says:

    It’s definitely time for an INTERVENTION for these guys. They are still in a hugh state of denial about the real problem. They continue to try to lay blame and responsibility on those around the real problem. They continue to try to divert our attention away from the real core problem. They simply must hold the problem makers accountable for this and put them in “rehab” to face the ugly truth about their misdeeds and the harm they have caused to pretty much everyone they interacted with.

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