It happened last February 9th. President Obama announced what would become soon after become known as the National Mortgage Settlement. It was the end of more than a year of negotiations between 50 state attorneys general and the five largest mortgage servicers, Bank of America, JPMorgan Chase, Wells Fargo. GMAC and Citibank.

It was the first time we had heard from the president on the housing and foreclosure crisis since February 18, 2009, when he introduced his Making Home Affordable plan to the wildly cheering crowds in Arizona... three years before.

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