Mortgage industry robo-signing
The Florida governor, Rick Scott, walked away from an class action law suit file by eight states against the mortgage industry.
Now Florida State Attorney General Pam Bondi is taking credit for a recent settlement with the mortgage industry.
According to The Buzz:
The settlement generally releases civil claims related to robo-signing, other foreclosure-related abuses, and loan origination misconduct, but it provides no release of criminal claims or of claims related to mortgage securitization.
Note: although Gov. Scott walked away form the settlement, the Tampa Bay Times indicates that Pam Bondi didn't. Good for Pam Bondi!
The critics are already making noise about the settlement, but had the litigation gone hard corps, the settlement could have taken a decade or more. This is settlement is also the beginning of more to follow.
source: Florida homeowners expected to get $8.4 billion in national mortgage settlement | Florida politics blog: The Buzz | Tampa Bay TimesNote: although Gov. Scott walked away form the settlement, the Tampa Bay Times indicates that Pam Bondi didn't. Good for Pam Bondi!
The critics are already making noise about the settlement, but had the litigation gone hard corps, the settlement could have taken a decade or more. This is settlement is also the beginning of more to follow.
graphic source: http://sfbayview.com/2012/why-all-the-robosigning/
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