Gasparino: "Robo Signing" Settlement To be Delayed

Charlie Gasparino, of Fox Business Network, is out with an article this afternoon, which states that the “robo signing” settlement that was expected to close very soon may be postponed until next month.

Mr. Gasparino stated, “The snag stems in large part from the attorneys general group, led by Iowa AG Tom Miller, being unable to come up with a concrete settlement arrangement with the various banks under scrutiny, which includes J.P. Morgan (NYSE: JPM) and Bank of America (NYSE: BAC). The list of potential remedies includes fines, or some restitution to homeowners victimized by so-called robo signers where banks hired employees who basically rubber stamped foreclosure documents, thus denying homeowners who were delinquent on their mortgages proper review and due process.”

To read the full article, please click here.