Monday, July 25, 2011
Massachusetts joins New York and Delaware
From Bloomberg:
Massachusetts said it won’t sign on to any settlement of a nationwide foreclosure probe that includes certain liability releases for banks, joining at least two other states that have raised concerns over terms of a possible deal.This will surely piss off BO & Tiny Tim who promised a sweetheart settlement to the Banksters in time to make campaign contributions.
The banks in settlement talks with state and federal officials are seeking broad releases to protect them from legal claims. Massachusetts Attorney General Martha Coakley said today she won’t support an agreement that includes releases for securitization of mortgages and conduct related to a database of mortgages known as MERS.
“Massachusetts will not sign on to any global agreement with the banks if it includes a comprehensive liability release regarding securitization and the MERS conduct,” Coakley wrote to the Norfolk County register of deeds in Dedham, Massachusetts. “These investigations must continue.” The registry keeps real estate records.
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