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Volume 23 - Number 2

January 23, 2012

State AGs Meeting in Partisan Groups to Discuss Settlement

The Democratic and Republican state attorneys general are scheduled to meet separately Monday, Jan. 23, to discuss the foreclosure practices settlement terms sent out last week, amidst varying criticism that the agreement will be either a shakedown for banks or an inadequate answer to homeowner woes. Monday’s meetings come after Housing and Urban Development Secretary Shaun Donovan announced last week that the pending settlement was “very close” and would benefit about 1 million families through principal reduction for homeowners and, in some cases, direct compensation for people wrongfully ...

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Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
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