Government officials are set today to announce a record $26 billion settlement with the five biggest banks related to foreclosure abuses including "robo-signing" of documents.
The Department of Justice will hold a press conference at 10 a.m. to announce an agreement in principal. At least 42 states have agreed to sign onto the agreement. New York and California were among the last holdouts and it wasn't clear whether they will join or sue separately.
For the past year, President Obama has advocated for a mortgage relief plan with the five biggest mortgage servicers, Bank of America, JPMorgan Chase, Wells Fargo and Ally Financial, to settle an investigation of foreclosure abuses. Evidence of robo-signing foreclosure documents began to show in 2010 during a record national wave of foreclosed homes.
http://news.yahoo.co...--abc-news.html
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Govt To Announce a $26 Billion Foreclosure Abuse Deal 5 Biggest Banks To Pay for Settlement
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