Speaking of JP Morgan Chase, banks who did illegal foreclosures will not be prosecuted [View All]

[EFerrari]

by 50 states AGs group.

from Crooks & Liars

January 04, 2011 04:00 PM
State AGs To Sign Agreements With Largest Firms In Foreclosure Fraud

By Susie Madrak

Nope, despite what Iowa AG Tom Miller promised in this video, we're not seeing any criminal prosecutions of these thieves. But at least these state AGs are more likely to force some real reforms into the foreclosure process:

The 50 state attorneys general probing U.S. foreclosure practices will first settle with the five largest loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., Iowa Attorney General Tom Miller said.

No settlements have been reached yet, Miller said in a telephone interview today. The other three are Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc., said Miller, the leader of the 50-state investigation. The five have 59 percent of the market, Miller said.

“What we’re looking at is five separate agreements with the five largest servicers,” Miller said. “We’re still a ways away” from reaching agreements, he said. “We’re working very hard to figure out what should be in the settlement.”

More, video at link

http://crooksandliars.com/susie-madrak/state-ags-sign-agreements-largest-fir