creating new ways that mortgage servicers interact with under water homeowners, so the procedural changes may end up helping people having a hard time but it won t change it dramaticity. eric schneiderman is moving forward with deeper investigation of the banks. is that where we see broader action taken against the banks? that is where we will see it? i wouldn t pre-judge, there is a bigger investigation going on, schneiderman is a fan, i was talking to greg sargent, freedom to move elsewhere, it should be said is one reason the deal is fairly limited in terms of the money because if they didn t take all the liability off the table, didn t get the banks out from everything, it dealt with the robo-signing element where they had automatic signing of the mortgage documents when they should have been signed by humans. it was limited so the banks will be exposed to further legal
it will help some people and it s bigger impact might be in creating new ways that mortgage servicers interact with under water homeowners, so the procedural changes may end up helping people having a hard time but it won t change it dramaticity. eric schneiderman is moving forward with deeper investigation of the banks. is that where we see broader action taken against the banks? that is where we will see it? i wouldn t pre-judge, there is a bigger investigation going on, schneiderman is a fan, i was talking to greg sargent, freedom to move elsewhere, it should be said is one reason the deal is fairly limited in terms of the money because if they didn t take all the liability off the table, didn t get the banks out from everything, it dealt with the robo-signing element where they had automatic signing of the mortgage documents when they
still file suit. prosecutors can investigate many other practices that contributed to the housing bubble such as insurance, and tax fraud. 49 states attorney general signed on the settlement. the only one missing was from oklahoma, he thought the agreement was too hard on the banks. joining me tonight is ezra and columnist for the washington post . a couple people think it s a good deal, the main thing about the deal it doesn t matter. it does in terms of the legally ability for the banks, in terms of the fairly small number of homeowners who will be affected but the numbers are stark. we have $700 billion in under water mortgage debt. this is a $26 million deal. it will help some people and it s bigger impact might be in creating new ways that mortgage servicers interact with under water homeowners, so the procedural changes may end up helping people having a hard time but it won t change it dramaticity.