# Mortgage Industry Overhaul &amp; $25B Settlement



## Guest (Jan 23, 2012)

"About 750,000 Americans could receive checks for about $1,800 under the deal.

The settlement would only apply to privately held mortgages issued between 2008 and 2011, not those held by government-controlled Fannie Mae or Freddie Mac. Fannie and Freddie own about half of all U.S. mortgages, roughly about 31 million U.S. home loans."

http://www.fox5vegas.com/story/16579001/25b-nationwide-mortgage-deal-goes-to-states

Linda


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## BPWY (Apr 12, 2012)

Heres a check, now go away and be quiet.

Oh and by the way, you can't sue us for screwing you over fraudulently.
We got 50 state immunity.


Nice job of selling the tax payers down the river.


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## Guest (Jan 23, 2012)

Any cost estimate from the government = add two zeros to the end. Iraq cost 100 billion? Uh, minor miscalculation it's going to be 10 trillion.

Any revenue or cash being given to the taxpayer = remove three zeros. Up to 10 million americans could receive 3% mortgages under the making homes affordable program. Uh, minor miscalculation 1500 americans got these gravy loans. 

This one was especially funny - you had to prove you could repay the loan but if you could prove you could repay you didn't need any assistance.


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## APlusPPGroup (Apr 14, 2012)

@ Paul. It won't solve any of the issues that don't already have a solution pending or get the owners back into their homes.

But at least it's something. There are people out there who can use the $1,800. Problem is............ it might be hard to find them, now that they don't live in those homes anymore. Unless, of course, they were part of a class action suit.

Linda


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## APlusPPGroup (Apr 14, 2012)

@ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.

Linda


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## BPWY (Apr 12, 2012)

a1propertyclean said:


> @ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.
> 
> Linda







I sure wouldn't hold my breath on that one!!!!

The last few years current events do not have a very good confidence rating on how things should be.


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## Tom Stuble (Sep 17, 2012)

a1propertyclean said:


> @ Metro. This $ is supposed to be coming out of the banks' pockets, not the US Government.
> 
> Linda


didn't we give the banks some money?i seem to remember:whistling


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## APlusPPGroup (Apr 14, 2012)

I'm pretty sure the bailout money was wasted. Now they have to come up with it on their own.

I prefer to remain optimistic that the banks are finally going to pay out of their pockets for something. NO raining on my parade, okay? 

Linda


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## Guest (Jan 23, 2012)

I've signed up for three class actions over the years. Even read about one of the cases paying out. Never seen a dime.


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## Guest (Jan 23, 2012)

HUH...Banks don't print money...they get their money from account holders SO the account holders will be paying for this out of extra fee's, less interest, higher overdraft charges etc etc. 

Banks won't pay for a thing in the end.


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## APlusPPGroup (Apr 14, 2012)

FremontREO said:


> HUH...Banks don't print money...they get their money from account holders SO the account holders will be paying for this out of extra fee's, less interest, higher overdraft charges etc etc.
> 
> Banks won't pay for a thing in the end.


This is very true, Brent. Thankfully, I don't bank with any of them. Chase was one of the worst and found every way they could possibly think of to ding me.

One day, I withdrew all but a dollar and opened an account at another bank. By leaving a dollar in my account, I was able to keep my account open at Chase in case I didn't like the new bank any better. 

They took that, plus some. I wrote and told them [3 times, if I recall correctly] that they weren't getting anything from me. They finally reversed the charges when I threatened action against them.

Linda


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## Guest (Jan 23, 2012)

Linda,

The name of the bank doesn't matter anymore. We will all pay. The banks are all in bed together. If "x" does this then "y" will do it also. In the end the winner is the one that gets all the money.


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## APlusPPGroup (Apr 14, 2012)

FremontREO said:


> Linda,
> 
> The name of the bank doesn't matter anymore. We will all pay. The banks are all in bed together. If "x" does this then "y" will do it also. In the end the winner is the one that gets all the money.


Sad, isn't it? Oh, well. I hope the people who really need the money get it anyway. 

My checking accounts are free, so is my bill pay for vendor payments, and I rarely have to pay the additional ATM fees. It's going to take them awhile to get much money from me.

Linda


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## Guest (Jan 24, 2012)

Maybe its because this lawsuit is led by our Notorious Atty General Tom Miller that I have heard so much news of this that its a joke. When I say WE WILL ALL PAY is exactly whats meant. Not through banking fees only but through the business accts that pass this on:

Gas Service/Convenience Stores finance their accts will be charged more
Grocery Chain stores factor their invoice/cash flows through banks
Auto dealerships, carpet supply, furniture stores use floorplan accts through the banks.
ETC ETC ETC

This was asked of the Atty Generals Office on a radio show "won't the banks just pass this off to the consumers?" Answer "well of course this will be passed on since the banks have no savings acct (besides reserve acct mandated by the FDIC which can not be touched other than an emergency).

In short its another type of income redistribution since all us consumers will be paying to others that, due to their own shortcomings (intentional or un-intentional), lost their home mostly due to non-payment. 

Also, If you have any mutual funds or 401k or IRA funds left than you will take another hit since nationally financial institutions are part of nearly every portfolio....

Yes we will all pay. Some obvious and some not.


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## Guest (Jan 24, 2012)

i hate banks.
the happiest day i had of 2011 was closing all my accounts at a bank and opening private credit union accounts


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## thanohano44 (Aug 5, 2012)

a1propertyclean said:


> Sad, isn't it? Oh, well. I hope the people who really need the money get it anyway.
> 
> My checking accounts are free, so is my bill pay for vendor payments, and I rarely have to pay the additional ATM fees. It's going to take them awhile to get much money from me.
> 
> Linda


Linda,

They're making some nice returns investing your money and not giving you any. LOL


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## APlusPPGroup (Apr 14, 2012)

Seriously, I thought this would be good news. Sorry to see it's not being seen that way.:sad:

These companies continue to increase fees so they take our money anyway. At least SOME people will benefit from the settlements and, personally, that makes me happy.

Linda


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## thanohano44 (Aug 5, 2012)

a1propertyclean said:


> Seriously, I thought this would be good news. Sorry to see it's not being seen that way.:sad:
> 
> These companies continue to increase fees so they take our money anyway. At least SOME people will benefit from the settlements and, personally, that makes me happy.
> 
> Linda


I agree. When you have those types of connections, the best attorneys money can buy and the money to find it....you just can't lose and set yourself up to win every time. 

It all comes down to what you said earlier. Greed created this industry and greed is destroying it.


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