(Source: By Alejandro Lazo and Nathaniel Popper, Los Angeles Times) – Reporting from Los Angeles and New York— An effort by state attorneys general to take big mortgage servicers to task over faulty foreclosure practices has stalled as financial institutions demand broad legal immunity from other mortgage-related probes.The nationwide effort looking into faulty foreclosures, which involves attorneys general from all 50 states as well as some federal agencies, was expected to have produced a settlement of more than $20 billion by now. But talks have stumbled over how much the banks should pay as well as to what degree they will be released from liability from future investigations.
Source: By Alejandro Lazo and Nathaniel Popper, Los Angeles Times
August 23, 2011
To read more, click on this link