Relevant:
- U.S. and 14 Lenders Said to Be Near Deal of Foreclosure Claims
- Regulators Warn Banks Not to Flout $25 Billion Foreclosure Deal
- Borrowers to get $8.5 billion in foreclosure and mortgage settlement
- What the foreclosure settlement means for you
- Goldman and Morgan Stanley cut $557 million foreclosure deal
2013-02-19 — nytimes.com
Under the deal, announced by the Federal Reserve and the Office of the Comptroller of the Currency, the mortgage servicers will pay $3.3 billion to borrowers who went through foreclosure in 2009 and 2010 and an additional $5.2 billion to reduce the principal or the monthly payments of borrowers in danger of losing their homes.
Those numbers might look impressive, but the deal is far too modest to be a credible deterrent to reckless foreclosure practices.
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