Abigail C. Field always delivers!

I’m beginning to think that the last couple of days were April 1st in disguise. I mean, what a crazy practical joke our Federal Government and State AGs just tried to play! What a parade of press conferences, all touting a deal to trade some $25 billion in mostly more accurate accounting for some kind of release of origination, servicing and foreclosure fraud. But it turns out the deal’s not real.

Jeff Horowitz and Kate Davidson have the story for American Banker (bold always mine):

More than a day after the announcement of a mammoth national mortgage servicing settlement, the actual terms of the deal still aren’t public….That’s because a fully authorized, legally binding deal has not been inked yet.

[REALITY CHECK]

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