Tuesday, February 07, 2012

Mortgage Settlement: NY AG to make statement at 6 PM ET

by Calculated Risk on 2/07/2012 03:52:00 PM

From Diana Olick at CNBC (video at 4:30): New York state Attorney General Eric Schneiderman will make a statement at 6 PM ET.

Olick speculates that if Schneiderman announces New York is joining the settlement that that might mean he has to drop the suit against MERS that was recently filed.

Update: From Bloomberg: States With Highest Foreclosure Rates Among Bank Deal Holdouts

California, New York, Nevada, Florida and Massachusetts are among the handful of states that haven’t signed a deal with banks over foreclosure abuses ... California Attorney General Kamala Harris and New York Attorney General Eric Schneiderman, who have been some of the most outspoken in pushing for changes to the deal, were among those who hadn’t joined as of yesterday’s deadline.
Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. made a last-minute demand that New York drop claims filed against them Feb. 3 as a condition of the foreclosure settlement ... The push by the three banks raised an obstacle in getting Schneiderman’s support for the deal, said the person.