Top officials involved with multistate foreclosure settlement talks say a deal is close and that the settlement will not protect servicers from local and state governments' claims regarding MERS and mortgage securitization practices.
According to a Bloomberg report this week, Iowa Attorney General Tom Miller says the settlement will not preclude individual states from investigating and challenging banks' mortgage securities claims.
‘They won't be released. They will go forward,’ Miller said in an interview, according to Bloomberg.
The report also quotes Iowa Assistant Attorney General Patrick Madigan as saying that a deal covering servicing standards is ‘essentially done.’
To read the complete report, click here.