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News Link • Corruption

States to ask banks for larger mortgage settlement

• Reuters

Federal regulators and state attorneys general have been investigating bank mortgage and foreclosure practices that came to light last year, including the use of "robo-signers" to sign hundreds of unread foreclosure documents a day.

The authorities have discussed forcing banks to do principal writedowns for some troubled mortgages, having them pay into a fund to help distressed borrowers, and cleaning up their foreclosure practices.

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