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IPFS News Link • Housing

White House, big banks close to foreclosure fraud settlement

• Rawstory

The White House, state attorney generals, and the nation’s big banks are reportedly close to a $25 billion settlement on allegations on foreclosure fraud, according to the Huffington Post.

The settlement would be based on homeowners who were either illegally foreclosed on or underwater on their mortgages. Those cases would be almost tied to “robosigning” where banks would not face another lawsuit from states for foreclosure.