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.
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.
