charged with voter impetition impersonation. we know mortgage servicers have proceedings improperly whether homeowner is awaiting modification. we know the actual final terms of that mortgage settlement we heard so much about haven t been announced and know if the banks attitude is any indication the banks will attempt to wiggle their way out of it as soon as the ink is dry. we know the new consumer finance protection bureau will be investigating banks overdraft fees. we know even the savviest most prudent consumers have been hit with overdraft fees and not understanding what the policy is. we know the probe by the agency could result in new rules regulating the practice. finally we all now know the meaning of the adjective transvaginal! it refers to ultrasound carried out with this infamous wand thanks to the virginia legislature mandating the procedure for any woman wanting to have an abortion. we know the outrage across the
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.
the housing meltdown took down with it countless homeowners. in fact i m probably talk about many of you. today federal and state officials announced a $26 billion foreclosure settlement aimed at righting some of the wrong. the settlement was made with five of the nation s largest home lenders. let s bring ali velshi. what will this mean for homeowners? citi group, bank of america, wells fargo and it s $26 billion and it s going to spread out the pot this way. first of all no more robo signing home foreclosure. if you were foreclosed on you may get $2,000. if your home is underwater you could get an average of $20,000 in principal reductions as long as your loan is not with fannie or freddie or backed by them. these are private loans. the lenders get immunity from future state claims. they don t get immunity from criminal investigations. homeowners can still pursue claims against the banks even if they take either the $2000 or the $20,000 in reduction. and states still ha