Madigan Sues NTC for Document Fraud, Prior to Foreclosure Fraud Settlement

By: Thursday February 2, 2012 1:26 pm

OK, let’s try to figure this one out. Illinois AG Lisa Madigan is on the executive committee putting together the foreclosure fraud settlement. She’s been supportive of the deal throughout the process. I have no reason to suspect she’s not STILL supportive of the deal. And yet she comes out today with a civil lawsuit [...]

Surprise! Securitization Liability Release Part of Foreclosure Fraud Settlement

By: Tuesday September 6, 2011 6:10 am

According to well-publicized timelines, the foreclosure fraud settlement was supposed to happen by Labor Day at the latest. Well, yesterday was Labor Day. Still no foreclosure fraud settlement. And that’s probably the way it’s going to stay. But Shahien Nasiripour’s latest for the Financial Times settles an argument about the settlement, between the lead negotiators [...]

Miller Boots NY AG Schneiderman Off Foreclosure Fraud Settlement Committee

By: Wednesday August 24, 2011 6:23 am

The way the 50 state AG “investigation” of the bank foreclosure/securitization fraud saga has worked is that there’s a smaller task force of I believe 13 AGs and two banking regulators who are involved in the negotiations with the banks and whatever else it is that they’re working on. It turns out that New York’s [...]

White House Pressuring Schneiderman to Drop Objections to Foreclosure Fraud Whitewash

By: Monday August 22, 2011 6:10 am

I don’t know if Gretchen Morgensen’s story on the backroom attempts at arm-twisting to get Eric Schneiderman to play ball with the foreclosure fraud settlement, and drop his efforts to actually investigate the depths of the abuse, should come as a surprise to anyone. I think we can actually be happy that it’s being made [...]

Cooper, Madigan Threaten Lawsuits Against Servicers for Foreclosure Fraud

By: Wednesday June 22, 2011 8:10 am

This was always implicit, but Attorneys General Roy Cooper (D-NC) and Lisa Madigan (D-IL) have gone public, saying that they plan to sue top banks and their mortgage servicers over fraudulent conduct if settlement talks break down. The threat of litigation dragging on years, and the reputational risk to the financial institutions involved, is part [...]

State AGs Start Freelancing, Abandoning Inadequate Foreclosure Fraud Settlement

By: Friday May 27, 2011 7:25 am

This week, we got a leak from the ongoing 50-state AG settlement talks that the banks were threatened with a specific dollar amount of liability if they don’t comply with a resolution. State attorneys general told five of the nation’s largest banks on Tuesday they face a potential liability of at least $17 billion in [...]

Looking at the Attorney General Races

By: Wednesday November 3, 2010 7:23 am

You may know the top line on statewide races, that Republicans picked up 10 Governor’s seats. You probably won’t see a comprehensive list of how state Attorneys General fared. That’s why I’m here! The state AGs take on unusual importance this year because they are running the foreclosure fraud investigation. All 50 current AGs are [...]

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