Three More State AGs Agree To Settlement Deal

Posted by Orb Staff on February 08, 2012 No Comments
Categories : Mortgage Servicing

10892_01harp Three More State AGs Agree To Settlement Deal The attorneys general of Arizona, Florida and Michigan have agreed to join the foreclosure servicing settlement agreement between the nation's five largest banks and a coalition of federal and state agencies.

The Associated Press reports that the attorneys general of five states – California, Delaware, Massachusetts, New York and Nevada – have yet to commit to join the settlement.

The settlement involves Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. As part of the settlement, the states would not seek further civil action against the lenders, but they would be able to pursue criminal investigations.

The deadline for the attorneys general to approve the settlement was originally Feb. 3, but was then moved to Feb. 6. There is no word on what kind of an extension will be given to the five uncommitted states before the settlement is finalized.

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