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States Negotiate $26 Billion Deal for Homeowners

Date: February 8, 2012

Authors: Nelson D. Schwartz and Shaila K. Dewan

QUOTE: After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said. It is part of a broad national settlement aimed at halting the housing market’s downward slide and holding the banks accountable for foreclosure abuses.

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Article MetaInformation:

Key People:

• Shaun Donovan MS
• Thomas J. Perrelli Esq.
• Kamala Harris Esq.
• Eric T. Schneiderman Esq.
• Prof. Christopher "Chris" J. Mayer Ph.D.
• Dr. Mark M. Zandi Ph.D.

Key Organizations:

• Ally Financial
• Bank of America Corporation (B of A)
• California Public Employees' Retirement System (CalPERS)
• Citigroup Inc. (Citicorp)
• Department of Housing and Urban Development (HUD)
• Fannie Mae (Federal National Mortgage Association) (FNMA)
• Freddie Mac (Federal Home Loan Mortgage Corporation)
• JPMorgan Chase & Co.
• Justice Department/Department of Justice (DOJ)
• New York Times Company
• Wells Fargo & Company

Subject & Geographic Categories:

• Abstract Principles
  • Control / Access / Permission
    • Principles / Guidelines / Rules / Policy
  • Information
    • Auditing/Verification
    • Truth / Honesty / Lying / Cheating
      • Hide/Mislead
  • Responsibility
    • Apologies/Reparations
  • Timing / Delay / Procrastination

• Businesses & Organizations
  • Industry-Specific Issues
    • Banking/Lending

• Government & Politics / History
  • Government (General)
    • Government Regulation
      • Business Regulation

• Law & Justice
  • Civil Law / Common Law
    • Lawsuits / Litigation
      • Lawsuits: Class Action
  • Criminal Law
    • Theft / Stolen Property
      • Frauds / Scams: General
        • Consumer Victims

• Personal Finance & Career
  • Personal Finance
    • Personal Asset Management
      • Residential Housing: Homes/Apartments/Condos
        • Loans: Mortgage

• North America
  • United States of America/USA

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